Dukascopy is a scam and here's why. Please see my request for intervention on behalf of the community to bring out this broker for the lawless and irresponsible actions experienced by the forex community. My account with Dukascopy is compromised by the numerous requests and unreasonable demands of the compliance and legal department which keep on asking questions regardless of whether they have been answered and have even frozen my funds. To look at the sequence of events, having received numerous emails from the compliance department requesting information in duplicate and even demanding without reason the format in which the information must be submitted on self-certification documents which means them taking in active role in targeting clients based on their own interests even if the information was up to date and submitted in the correct format. Here are the things that have been experienced thus far. 1) Dukascopy calls me at 11pm to ask me questions about my account 2) Dukascopy refuses to change my telephone number stating proof of address is requested for telephone number change. 3) Dukascopy takes an active role in investigating why my number is US even if it is said to be a voice, still it is not accepted and demands for information keep coming such as "What is your relationship with US" 4) Dukascopy bills me for account inactivity prior to this claim in a year or two before without notification for $100 USD 2 times. 5) Account manager becomes unavailable at will and at certain times does not respond to emails. 6) Requests for account modification or changes including but not limited to opening of trading accounts are ignored. 7) Withdrawal requests are met with more questions which pertain to account information even if the account information is up to date. 8) Dukascopy will not honor the agreement in terms of secrecy of information and exchange, first mentioning that they will, Report me to all countries that I MAY be a tax resident of, only to later change the tone to We will report you to Country X. 9) Dukascopy would like to close my account even though their claim is groundless and there is no information owed based on their self-certification claims for my lack of information. 10) The team at Dukascopy keeps asking questions that are beyond the scope of a bank as well as a broker. Questions like why do you need so many trading accounts and why do you have a US number. 11) The letter received from the bank which apparently comes from their legal department indicates they asumed information which is not my problem and their remedy is to ask me to correct this information. However the information is up to date and there is no information owed therefore they are blackmailing me. 12) Dukascopy have frozen my funds and plan to levy a maintenance fee based on inactivity. However it's not even possible to maintain the account because it's been frozen. My funds are frozen because Dukascopy refuses to honor their end of the agreement and chooses to ignore my request as well as submitted information. Please asist in retrieving my funds.
Been trading with Ducascopy for around 7 months and overall would say my experience with them has been improved dramatically. The master classes they hold are very informative, I just wish there were more open webinars on stock and futures markets. I also see how my trading style has changed over 7 months. Things like capital management and pattern recognition are heavily emphasized in all of their seminars and courses. I'm happy to trade with Ducas and see how my balance gradually growing over time. Probably the most recognizable and reliable forex broker in Europe!
Dukascopy is both broker and bank that is why it offers a lot of options and that is an advantage. The withdrawal is easy and fast here. The technique and feasibility are up to the mark. I appreciate transparent pricing environment here and stable server without any breaks. It allows reacting without delay under various market situations. At the same moment I can monitor the market, carry out the trading orders including Stop Loss, OCO, limit, take profit and others. Here I can take advantage of slippage control feature. The hedging mode is available.
My account is with this broker for a year already. I am glad to start trading here as far as it is honest. Though they say Dukascopy suits experienced traders – I pick the things up. It is an ECN-type broker so I can carry-out client-to-bank trading without dealers and thus keep my trading strategy and open positions closed for those dealers. Besides, it is really important to have the prices just from leading banks. The broker does not re-quote and does not take positions against the clients. Here I am allowed scalping also. In general the execution is good here and the spreads are quite reasonable perhaps not the tightest one but it’s ok.
I am quite satisfied with the broker's services. Have been there client for a couple of years so far. Not experienced any major problems. Withdrawal is not extra fast but works eventually. They do not hamper trading. So going to stay with them.
I also trade in this dukascopy for 3 or 4 month. Its good enough, but i change broker to Liteforex broker. And I find out the right place for me to make many pips in every days.
I have worked with the company for more than four years. During that period I have not experienced serious problems. Of course there were minor slippages, but quite expectable for real market. The spread is not widened too much. The platform is not extra user friendly but you get used to it with the time. The process of opening a real account is also not simple but finally is worth it.
Dukascopy looks like a more reliable broker since the receipt of their banking license. At least, for individuals of networth under 100k.
Actually I wasn't reading carefully enough. I took a closer look at the commission policy, if you exceed a certain amount of traded volume you get rebates. However, I didn't receive any rebates for May because I stopped trading but this is good news.
The execution is really impressive. I'm a scalper myself so I love the tick charts and execution plays a very important role for me. However, I am considering a different broker right now because I have a small capital and the commission which applies to me is a bit expensive :(
I have never seen such a technology. ther iphone app is amaying, speclally the trading system.
The worst broker ever
Still my favourite broker. good ecn network, good exe.
We've been with them for over a year. True, the platform plays sometimes stupid tricks, especially while scalping with small lots (smaller than 0.25 million). We've made money and we've lost some, but it wasn't the fault of Dukascopy. We more than doubled our money in a month and we had our profit (over $ 50,000) transferred to our bank account in less than 36 hours, and the only fee was the $10 charged by OUR BANK. We consecutively lost almost $ 110,000, but we may only blame ourselves for that. The platform is quite complex and it takes a lot of time to learn how to navigate through it. The news service is shitty, although somewhat improved recently, but you have Bloomberg, Reuters and DJ services. Overall, if you don't know what you're doing, it's not for you. Right, you sometime have to wait a day before your more complex technical questions are answered, but they are eventually answered COMPETENTLY, TRANSPARENTLY AND HONESTLY (IF ABSOLUTE HONESTY EXISTS AT ALL).
Jforex platform works perfect. Only stupid will not understand how it works. Great product
I watch my wife struggle to get any telephone response from Dukas, they openly state they will only ONLY allow you to contact them if you want to CLOSE a pos. and are unable to.
i did interbank with foreign trade Moscow 1987. we quoted 3 pips spread for 100 and more. done. so looking for a broker up 5 to 25 or more via internet its ok. so u hv to decide whether u hv a direct line to your bank for a fucking management position and you can forget abitrage or play with Duka. i tell u they quote u choice once u get them on phone. cheers
For all they promise with their catchy centralized decentralized market, you would expect 1) immediate execution 2) no slippage 3) no requotes as they claim the best liquidity with this market, sadly execution suxs (20 seconds! guess where the price went !) and requotes are pretty frequent...as are the no executions. If they make it as a bank, they need to get it together, especially with an opening amount of $50K!
Me have gone to Dukasponzi office as well, I having problem having paid my IB rebates, i do not tell them I coming. 1) office is like extension of Geneva airport...for fast escape! 2) office is like a long corridor with cheep Ikea furniture. Raivis zille, the person I spoke with is VERY RUDE with me, i bring them much client and they treat me like dirt!
Trder 123, you are an funny person, haha, DukasCrappy has 4th best plataform in Swizerland, no sorry, 3rd now that Crown Forex will be to go! Every body know that MIG and ACM have better plataform, better spreds, more currencys, and less slipagge. Offices, DukasCrappy can not compare to ACM office or MIG. Get your head out the sand you ostrich!
Interview 2 - I was in their office. You are scamming or you are working with some other brokerage company. Their office is really big and what they offer is very good. Such technology till now no one broker can offer.
I stared to use their custodian service and works very good. Only to set up it all took me 3-4 weeks. But I think all Swiss banks doing very slow papers to setting up account.
Hello? Have Dukascopy missed the ACM MIG train?? No reports of their banking license application! HELLO???
I have recently read some disturbing information carried out by a website that claims Dukascopy has cell phone contact numbers that stretch from Argentina thru England to Germany. This is a little uneasing, it's not like I can jump on a bus to go see them, I live in the US. I always found it a little strange that I was never able to talk on the web with them until I actually had their platform, also when doing my comparing, finding out their advertised spreads was like gettin blood out of a stone, whereas all other major brokers openly have that info on their sites. All too dodgy for my liking.
I have been following the situation with swiss brokers and I dont think Dukas will make it to the banking licence. I am more confident in the more established ones like MIG and ACM. Dukascopy will end up like Crown Forex seeing how they are not up to speed with the banking requirements such as required number of chairmenan and paid up capital.
Yes it is distressing to Dukascopy clients to see this ACM banking news. If they don't get their act together for the license they will be forced to leave the country, and I will be forced to leave Dukascopy to find a Swiss broker with the license, most probably ACM.
I have just seen the news titles on the sites, ACM is going to be get the banking license. I find out what Grey Matter say is true as well, the net capital of Dukascopy is suspect how it is informed to the clients, this is not true money and I think that the FINMA will not give the license to them, it is not safe for the clients safety of funds. I not feel safe honestly. We are loosing the race, I check the Dukas website and no application is been done yet to FINMA for the license. Honest, the ACM news is a good news for forex in Switzerland and the world, it show that changes are positive in this country, but sadly is been done by another broker!
"Centralized Decentralized" WTF! Best hook I ever fell for. If the Dukas liquidity is so rich, then why is their execution so poor? This is vital for trading success, like going to a 21st century war with a flint musket, by the time you pull the trigger and the mechanism works, the target has ducked! Why so many rejected trades, why so many re-quotes during normal trading? Dukascopy, the flintlock in the tech age!
Their net capital is very suspect, I don't know of any other broker who represents it as shares of their trading platform. What does it mean for our protection? As it is, it doesn't function that well, freezing very often, execution that can take 30 seconds. Does that sound like a 20 million franc piece of equipment?
If you are ready to invest 50k with a broker then you want value for money. This broker does not give you that, you get the feeling you have just invested in a 3 legged donkey at the races.
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Dukascopy forex broker has been operating on the international financial markets since 2000. forex dukascopy is a Swiss regulated Brokerage House. The company offers its customers unique access to the first Decentralized Marketplace in the world, joining the best liquidity of centralized...
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