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Dukascopy is a price manipulator or not?


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Dukascopy is a price manipulator or not?

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  #1 (permalink)
Luxembourg
 
 
Posts: 33 since May 2020
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Hiya,






- Anyone knows is the Dukasopy is a price manipulator and trading will encounter with unlimited spread and unlimited spike or what?
- How is your experience with Dukascopy in manual day trading?
- How is your experience with Dukascopy's Algorithmic trading?
- How large the trade amount shall be to actually leave the Dukascopy's internal liquidity and match with the orders outside Dukascopy in the dark-pool? 25K, 100K, 1Million, or what order size/amount?

- Dukascopy's platform facing issue to closing orders in profit in Demo accounts, thus can this be a mechanism that set on the platform to prevent traders from closing orders in profit, while major financial news e.g. NFP release? To make my question simpler, does Dukascopy actually set a mechanism inside the JForex to prevent it from closing orders in profit, even in Demo account? As they mature the manipulation technology to use it in the actual live accounts perfectly, without need for debugging? lol


-I'm speaking about the Duka's Bank branch not the EU one.



Tnx and best of luck
Fallen

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  #2 (permalink)
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They look like a russian bride site to me...

https://www.dukascopy.com/fxcomm/miss_dukascopy/

Personally I wouldn't trust them with my money, but that's me.

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  #3 (permalink)
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Blonde View Post
Dukascopy's platform facing issue to closing orders in profit in Demo accounts, thus can this be a mechanism that set on the platform to prevent traders from closing orders in profit, while major financial news e.g. NFP release? To make my question simpler, does Dukascopy actually set a mechanism inside the JForex to prevent it from closing orders in profit, even in Demo account? As they mature the manipulation technology to use it in the actual live accounts perfectly, without need for debugging? lol



If you want to browse for a hot girl while guessing whether various forex markets will go up or down, great.
But would you choose to open an account with a bank that also had a dating site? No? Clearly you don't trust them anyway, choose a reputable company instead.

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  #4 (permalink)
Luxembourg
 
 
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Hiya @karentrader and @matthew28






Yes, in that aspect of running Miss-of-the-world prize, they look like Ma~fi~a/G~angster to me. But as they are regulated under FINMA as a bank, and I think FINMA does not hand over a license to them just because they get intimidated by them. Switzerland is land of many banks with highest reputations.



Regarding trusting with money, can they do anything if I use the bank guarantee scheme too?



Also on of the most important matters is the execution without significant price manipulations, do not sending unlimited spikes and do not widen spread to unlimited amount? And commissions and SWAP shouldn't increase if the represented amount on their website isn't about that much, I hope you may get what I wanted to say?


There isn't any most reputable than them on the Swiss, as the other two/three is not as competitive as Duka in spread and commission and they suspected to be price manipulators?


The reason that I don't select the IB, is that I don't know their 'Native Python API' and that would be a learning curve for me, whether 'if' its necessary to chose them over the Duka?


Based on my understanding, the Duka only changing market orders to Limit orders to get few cents from spread, etc etc and if this is all that they doing, I may cope with it, while in the other hand I have access to Java based AI/EA based algorithmic trading facility that offered by them. ?



Also I can divide my fund, to execute the long term trades on IB while doing the Day-trading in the Duka, but then my Margin will be decreased depend on how much I have on each broker. ?



Is there anyone from IB that doing Algorithmic trading to shed some light on here as I'm new to IB's Algorithmic trading?


The thing that I'm looking here most is, is day-trading with Duka will encountered with heavy price manipulations(in bucket-shop style) if someone 'may' able to make any significant money with them?



Tnx and best of luck
Fallen

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  #5 (permalink)
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I've never used them so really can't say anything. But looking at their main website, rather than the attractive women website, they do say they are a Swiss Banking Group that as well as providing trading accounts also has bank accounts available so lets assume your funds would be safe.

But as with all spot forex brokers, CFDs and things not traded on centralised exchanges, like futures, they can set their own spreads to in theory whatever they like. But they also quote their average spreads on the website so I imagine they aren't going to get that wide.

Who really knows. It sounds like you are doing your research either way.

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  #6 (permalink)
Malaysia
 
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Blonde View Post
Hiya,






- Anyone knows is the Dukasopy is a price manipulator and trading will encounter with unlimited spread and unlimited spike or what?
- How is your experience with Dukascopy in manual day trading?
- How is your experience with Dukascopy's Algorithmic trading?
- How large the trade amount shall be to actually leave the Dukascopy's internal liquidity and match with the orders outside Dukascopy in the dark-pool? 25K, 100K, 1Million, or what order size/amount?

- Dukascopy's platform facing issue to closing orders in profit in Demo accounts, thus can this be a mechanism that set on the platform to prevent traders from closing orders in profit, while major financial news e.g. NFP release? To make my question simpler, does Dukascopy actually set a mechanism inside the JForex to prevent it from closing orders in profit, even in Demo account? As they mature the manipulation technology to use it in the actual live accounts perfectly, without need for debugging? lol


-I'm speaking about the Duka's Bank branch not the EU one.



Tnx and best of luck
Fallen

of $35 per million commission 55% goes to their "IBs"
I wouldn't trust them here's another swiss banking forex broker and publicly traded
https://en.swissquote.com/company/about-us
very different indeed

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  #7 (permalink)
Luxembourg
 
 
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PaperTrader View Post
of $35 per million commission 55% goes to their "IBs"
I wouldn't trust them here's another swiss banking forex broker and publicly traded
https://en.swissquote.com/company/about-us
very different indeed

Hiya @PaperTrader



I don't get this Duka's IB system, as you mentioned above, there is a possibility to open an account if you introduced by IB or what, then you get up to 45% commissions back. I'm not sure how this is works and I'm not sure if this 45% payback is forever or just for 1st month or few months. As if it's just for a few months, it doesn't worth it for me. But it would be nice if someone explains how to get this 45% commission back forever for all trades?
I know Swissquote as well, but I advised from a few expert traders that they are not better than Duka.

?

Tnx and best of luck
Falen

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  #8 (permalink)
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Blonde View Post
Hiya @PaperTrader



I don't get this Duka's IB system, as you mentioned above, there is a possibility to open an account if you introduced by IB or what, then you get up to 45% commissions back. I'm not sure how this is works and I'm not sure if this 45% payback is forever or just for 1st month or few months. As if it's just for a few months, it doesn't worth it for me. But it would be nice if someone explains how to get this 45% commission back forever for all trades?
I know Swissquote as well, but I advised from a few expert traders that they are not better than Duka.

?

Tnx and best of luck
Falen

just google dukascopy cashback

I don't understand why would i pay these people % of my comm. I rather have lower comm.

spot forex industry is very shaddy now with micro futures with 50 cents a tick it's better to stick to regulated markets unless you want china to be the next superpower and your forum posting censored for having different opinion

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  #9 (permalink)
Sydney NSW Australia
 
 
Posts: 13 since Jun 2020
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http://www.forexiswhyimbroke.com/dukascopy-im-broke/

I have come across this review (and the website, I mean ForexWhyIAmBroke) while researching brokers. Dukascopy also has good reviews on FPA. For what it's worth.

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  #10 (permalink)
Prague, Czechia
 
 
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I have got accounts with them for several years. Actually with the Swiss as well as the Latvian/EU branches. I have not got any issue with their price feed, support or money withdrawals.
Miss Dukascopy is residue after larger set of community contests that they were needed to discontinue due to recent EU regulations 1 or 2 years back. But I agree it really looks weird.

On development note. I have never been fan of Metatrader. IMO from algo dev perspective JForex SDK is one of the best thing one can get in retail spot FX industry, see wiki on link below it's comprehensive source of samples what can be achieved with it. It's pure Java, SDK allows you to build full custom algo trading platform on your own, you do not need to run strategies within their standard JForex environment hence you can fully debug your algos in e. g. IntelliJ Idea or VS Code. It's really powerful and rich SDK and framework.

Hovewer it's still retail FX after all, so some sort of manipulation likely possible ...

https://www.dukascopy.com/wiki/en/development/get-started-api/use-jforex-sdk

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matthew28 View Post
If you want to browse for a hot girl while guessing whether various forex markets will go up or down, great.
But would you choose to open an account with a bank that also had a dating site? No? Clearly you don't trust them anyway, choose a reputable company instead.


Never before have I seen a financial site moonlighting as dating platform.

Pure class

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  #12 (permalink)
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ursus View Post
http://www.forexiswhyimbroke.com/dukascopy-im-broke/

I have come across this review (and the website, I mean ForexWhyIAmBroke) while researching brokers. Dukascopy also has good reviews on FPA. For what it's worth.

Hiya,



Thanks. The thing is, I'm worried if they manipulate the price as I'm trading big positions and I lose everything in one spike event
Or they wait for my account reach 10 Million+, then they close the business and disappear with my money


Tnx and best of luck

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  #13 (permalink)
Luxembourg
 
 
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mrburns View Post
I have got accounts with them for several years. Actually with the Swiss as well as the Latvian/EU branches. I have not got any issue with their price feed, support or money withdrawals.

Miss Dukascopy is residue after larger set of community contests that they were needed to discontinue due to recent EU regulations 1 or 2 years back. But I agree it really looks weird.

On development note. I have never been fan of Metatrader. IMO from algo dev perspective JForex SDK is one of the best thing one can get in retail spot FX industry, see wiki on link below it's comprehensive source of samples what can be achieved with it. It's pure Java, SDK allows you to build full custom algo trading platform on your own, you do not need to run strategies within their standard JForex environment hence you can fully debug your algos in e. g. IntelliJ Idea or VS Code. It's really powerful and rich SDK and framework.

Hovewer it's still retail FX after all, so some sort of manipulation likely possible ...

https://www.dukascopy.com/wiki/en/development/get-started-api/use-jforex-sdk


Hiya @mrburns



Thanks. I dislike the MT4 and MT5, as most programs developed are for MT4, and MT4 does not show the ask-price charts, thus this is one of the reasons I dislike it. Another reason is, you never be able to see a clean chart like what NT8 shows in the MT4/MT5. And the programming capability is extended up to a .dll development, that is not much of a choice for developing an intelligent Algorithmic trading program for me. I rather feel comfortable with Java, and the API is extensive content in Duka, thus full API's learning curve is a long way ahead, while the tech support nearly doesn't exist for Algorithmic-trading as they just in a loop repeating a simple link or simple sentence, or sometimes they just ignore your complex algorithm consultation requests in whether how this kind of thing can be implemented effectively in your corporate's API, at least this was for me.

The other side, Java is widely supported in IB's platform and same extensive API contents with a big API's learning curve to get used to full development in their platform by Java. But at least I can be sure that the IB will not look like that they are going to close the business anytime soon.

Jforex-SDK is complex content and I like IntelliJ to pair with it, while the good point is, the developed Algorithmic-trading-program can become a trading-platform beyond needs for JForex to depend on it for trading, but on the other side, if any issue happens in execution, there is no way to close the position as there is no JForex, as long as you develop your trading platform in IntelliJ and depending on it for trading. But again this does not eliminate the fact that you are depending on the price feeds from Duka, and executions by Duka, thus price manipulations can happen if they want to do it. But the question is if the price manipulations if happens for someone and do not happen for others if this is a financial crime and if there is a way to get noticed of it? e.g. in case, my Stop-loss hit, or I get a bad fill or large slippage or didn't get any fill for a specific critical position at all, I'm looking a legal way to keep the broker in line and if their price manipulations only happened for me, then I need to be noticed of it upfront, thus I'm looking for a legal solution for this matter? Also, I never said that they are doing this kind of unethical things for sure, but I need legal guarantee and insurance as this is a business with huge sume of capital involved?

The one thing that I'm getting difficulties in their SDK is creating an algorithm to work in a accurate loop, as there are some serverside errors happens that contents of variables do not initialize as defined or they get a wrong content meanwhile the execution process and I do have experience with this as its happened for me. I can print the content of variables in the Java, while running a realtime application, but while processing a large amount of data of ticks and volume involved, it's very difficult to check the content of all variables if the have the value as they should, as sometimes as I mentioned, it's not the algorithm's logic but the Duka's serverside application is the one that is making mistakes that will make me lose the position. As also based on the terms and condition of Duka, they can participate in the trade as well, thus they may be my trade/position's counterpart and if I lose, they win, thus in some positions, they have conflicts of interest with me. This makes me feel that maybe the issues in serverside variable's content is a deliberate error as if there is a programming error in serverside that lead me to lose to my trade to counterpart(e.g. in some positions this can be Duka), thus there is no straightforward legal procedure to take legal action or complain about this to the regulator, as they may claim its an accident beyond their control, but the accident that happens fills their pocket and thus as it never accident happens to I get succeed out of the blue, this makes me feel uncomfortable with Duka?

I don't have the same experience with IB's Java API, thus I can't compare it to the IB's Java API in quality of execution, etc

Overall I would like it if I am sure that they don't manipulate my price feeds, spikes, slippages, position-fills, etc


By the way, do you know any advanced Java for financial markets books(or any learning materials) that teach only Java orientation towards financial markets concept that have advanced content and useful? As I know Java, but I'm looking for Java for financial markets technical books, or relevant matters. As there is not possible to access to same libraries that Pearl and R have natively, in Java, how shall I cover this matters for developing a Java Algorithmic trading program that needs Peal and R libraries for real time execution of large data content and decision making?


Tnx and best of luck

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  #14 (permalink)
Prague, Czechia
 
 
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Blonde View Post
Hiya @mrburns



Thanks. I dislike the MT4 and MT5, as most programs developed are for MT4, and MT4 does not show the ask-price charts, thus this is one of the reasons I dislike it. Another reason is, you never be able to see a clean chart like what NT8 shows in the MT4/MT5. And the programming capability is extended up to a .dll development, that is not much of a choice for developing an intelligent Algorithmic trading program for me. I rather feel comfortable with Java, and the API is extensive content in Duka, thus full API's learning curve is a long way ahead, while the tech support nearly doesn't exist for Algorithmic-trading as they just in a loop repeating a simple link or simple sentence, or sometimes they just ignore your complex algorithm consultation requests in whether how this kind of thing can be implemented effectively in your corporate's API, at least this was for me.

The other side, Java is widely supported in IB's platform and same extensive API contents with a big API's learning curve to get used to full development in their platform by Java. But at least I can be sure that the IB will not look like that they are going to close the business anytime soon.

Jforex-SDK is complex content and I like IntelliJ to pair with it, while the good point is, the developed Algorithmic-trading-program can become a trading-platform beyond needs for JForex to depend on it for trading, but on the other side, if any issue happens in execution, there is no way to close the position as there is no JForex, as long as you develop your trading platform in IntelliJ and depending on it for trading. But again this does not eliminate the fact that you are depending on the price feeds from Duka, and executions by Duka, thus price manipulations can happen if they want to do it. But the question is if the price manipulations if happens for someone and do not happen for others if this is a financial crime and if there is a way to get noticed of it? e.g. in case, my Stop-loss hit, or I get a bad fill or large slippage or didn't get any fill for a specific critical position at all, I'm looking a legal way to keep the broker in line and if their price manipulations only happened for me, then I need to be noticed of it upfront, thus I'm looking for a legal solution for this matter? Also, I never said that they are doing this kind of unethical things for sure, but I need legal guarantee and insurance as this is a business with huge sume of capital involved?

The one thing that I'm getting difficulties in their SDK is creating an algorithm to work in a accurate loop, as there are some serverside errors happens that contents of variables do not initialize as defined or they get a wrong content meanwhile the execution process and I do have experience with this as its happened for me. I can print the content of variables in the Java, while running a realtime application, but while processing a large amount of data of ticks and volume involved, it's very difficult to check the content of all variables if the have the value as they should, as sometimes as I mentioned, it's not the algorithm's logic but the Duka's serverside application is the one that is making mistakes that will make me lose the position. As also based on the terms and condition of Duka, they can participate in the trade as well, thus they may be my trade/position's counterpart and if I lose, they win, thus in some positions, they have conflicts of interest with me. This makes me feel that maybe the issues in serverside variable's content is a deliberate error as if there is a programming error in serverside that lead me to lose to my trade to counterpart(e.g. in some positions this can be Duka), thus there is no straightforward legal procedure to take legal action or complain about this to the regulator, as they may claim its an accident beyond their control, but the accident that happens fills their pocket and thus as it never accident happens to I get succeed out of the blue, this makes me feel uncomfortable with Duka?

I don't have the same experience with IB's Java API, thus I can't compare it to the IB's Java API in quality of execution, etc

Overall I would like it if I am sure that they don't manipulate my price feeds, spikes, slippages, position-fills, etc


By the way, do you know any advanced Java for financial markets books(or any learning materials) that teach only Java orientation towards financial markets concept that have advanced content and useful? As I know Java, but I'm looking for Java for financial markets technical books, or relevant matters. As there is not possible to access to same libraries that Pearl and R have natively, in Java, how shall I cover this matters for developing a Java Algorithmic trading program that needs Peal and R libraries for real time execution of large data content and decision making?


Tnx and best of luck

Fair enough.

In your post does IB mean Interactive Brokers? That's far higher league of course, and I agree far far better. I've been using them with Python and IBridgePy since Python fits my algo trading needs better than Java.
There is also QuantConnet which is finally quite mature for some time now and FXCM API whicih is being also good alternative for SPOT FX/CFD.

But the question was about Dukas hence I did not want to polute the thread with different broker names.


Blonde View Post
Overall I would like it if I am sure that they don't manipulate my price feeds, spikes, slippages, position-fills, etc

In retail CFD world you won't be ever sure if anybody manipulates with the price feed or not. I've been trying to be rather optimisitc in this field carefully choosing brokers in higher regulated countries (ok not 100% certainity whatsoever).
That said, take FXCM case in US. They did not manipulate price feed directly but provenly through 3rd party company and traded aggrresivelly against their clients. So no price manipulation required for us to be scammed. As small retailers we can only hope ...

Blonde View Post
By the way, do you know any advanced Java for financial markets books(or any learning materials) that teach only Java orientation towards financial markets concept that have advanced content and useful? As I know Java, but I'm looking for Java for financial markets technical books, or relevant matters. As there is not possible to access to same libraries that Pearl and R have natively, in Java, how shall I cover this matters for developing a Java Algorithmic trading program that needs Peal and R libraries for real time execution of large data content and decision making?

Look, I've been C# developer as my profession for ~20 years (with C, C++ and Java experiences beforhand), learnt Java, had got some R escapade, and ended up using Python for algo trading.
If you know Java and have got geeky mindset you can swith betwwen languages quite easily. At the beginning I wanted to use C# of cource for algos, but R/Python are so library rich environments that it would not make sense to me trying ingraft all to .net.

Take care

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