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Dukascopy vs MB


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Dukascopy vs MB

  #71 (permalink)
kk240
Europe,Nomad
 
Posts: 84 since Nov 2010
Thanks Given: 25
Thanks Received: 30


kami View Post
Dukascopy

Advantages
-------------

1.tight spread

a)Spread lower than MB for certain pair

b)Spread higher than MB for certain pair

2. Commisson discount up to 45% thru IA (It make same advantage as MBT commision)

3.Dukascopy is a bank. Your money is safe with 100,000 CHF insurance on all deposits.

4.The Market liquidity is larger than MBT

5. Hedging: YES

6. Leverage 1:100 (higher than MBT)

7. Cheaper commission than MBT for account above $50k

Disadvantages
-----------------

1. No deposit via credit card. Charges for wire transfer is high based on where you are.

2. Take longer time for account opening possible up to 3 weeks.

a) Tedious documentation approval but good for your money security.

3. Commission is higher than MB with account lower than $50k however you can back 45% your commission with your IA.



MBTrading

Advantages
-------------

1.Tight spread

a) Spread is lower than Dukascopy for certain pair

b) Spread is higher than Dukascopy for certain pair

2.Commission is lower than Dukascopy compare to if u open less than $50k account in dukascopy

3.Deposit and withdrawal can use Credit Card/Debit Card. It is really save your time.

4.MBT university offer a lot of education.

5.Support is good.

6.Live account opening take within a week.

Disadvantages
-----------------

1.To lower your commission you need to put limit order in and out (actually happy with this. Train me to improve my MM)

a) I also use cashbackforexusa.com to lower my commision

2.MBT is not a bank but protected by SIPC - Securities Investor Protection Corporation (not sure how good it is)

3.The market liquidity is lower than Dukascopy. Sometimes stopped out in MBT but not in Dukascopy (Depends on pair)

4. Hedging: NO

5. 1:50 Leverage


Moral of story

- I trade on both places.

a) Based on what strategy. Sometimes the strategies work in MBT but not Dukascopy.

a) Find cheaper spread to trade for high volatility pair. for example GBP/JPY only at Dukascopy (very cheap spread)..


PS: you can check spread comparison via FX Intelligence | Your Source for Forex Broker Comparisons .. compare MBT vs Fxopen ECN (Same data.Partnership with Dukascopy)



I had tradeing with dukas one year, and it easy to see when they start selling or buying and they liftt price, anyhow they system works all the time, i give them several pips, because no problem with them compare to other brokers. they artfificially do prices, so what, other brokers i loose my mind and control of my daily ruoutines, because have to think what to fuck dataffeed not workin or ,...........

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  #72 (permalink)
 
kashbg's Avatar
 kashbg 
London
 
Experience: Intermediate
Platform: LMAX
Trading: GBP/USD EUR/USD
Posts: 46 since Feb 2011
Thanks Given: 33
Thanks Received: 28

I can not complain from Dukascopy. I understand nowbody is perfect and if a broker is just suited to some traders there will be others that would have their needs unaddressed. Anyway, while discussing MB and Dukascopy, I have noticed that the Market Place Dukascopy are quoting which is called SWFX is created and registered under Dukascopy trademark.
I am not sure what does that mean, do they own it, it looks that way. And if they do, but is so popular that Dukascopy are able to give good spreads, then maybe other than the commission they are charging maybe they are pocketing the spread, if so clever dudes. Who is making those spreads in 5 dicimals, what kind of sofware is it that they are using to allow them such speed. I think there is rarely anybody on the bid and offer, it is just a computer sofware tracking the mean Forex. If the bid or offer gets hit, there is other ways that they hedge. They seem to be one step forward from all other brokers. The only thing I am slightly annoyed is that registering via an agent gives you half the commission that I am paying by registerign direct. Anyway, I am still taking that one on the chin.

"The only thing to do when a man is wrong is to be right by ceasing to be wrong." - Edwin Lefevre -
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  #73 (permalink)
worlock
Earth
 
Posts: 1 since Oct 2010
Thanks Given: 0
Thanks Received: 0


One question, how do you get an account with Dukascopy with the discount thru the IA?

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  #74 (permalink)
 
kashbg's Avatar
 kashbg 
London
 
Experience: Intermediate
Platform: LMAX
Trading: GBP/USD EUR/USD
Posts: 46 since Feb 2011
Thanks Given: 33
Thanks Received: 28


"The only thing to do when a man is wrong is to be right by ceasing to be wrong." - Edwin Lefevre -
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  #75 (permalink)
 
kami's Avatar
 kami 
kuala lumpur, Malaysia
 
Experience: Intermediate
Platform: Python
Broker: Oanda,IB,Lmax
Trading: FOREX
Posts: 31 since Mar 2011
Thanks Given: 13
Thanks Received: 10

MBT now is the cheapest ECN broker. I dont how long they can last until other brokers follow.

U cost is only spread n enjoy ECN benefits. The disadvantages u need to use Metatrader 4 only to get this privilege. Secondly there is no level II data due to MT4 limitation. I wonder how n when they will fill this hole. I hope they start to open up to all platforms. As advantages encourage traders from other brokers n instrument to start tour n add volume in MBT Forex.

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  #76 (permalink)
Retro
Chicago, Illinois, USA
 
Posts: 19 since Oct 2011
Thanks Given: 0
Thanks Received: 3

I've used both brokers and really prefer MB Trading in most cases when running my automated trading strategies. (Although I use IB almost exclusively these days).

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  #77 (permalink)
 DarkPool 
Battle Ground, WA
 
Experience: Master
Platform: Multicharts DT & MBT Desktop Pro
Broker: MB Trading
Trading: GBP/USD, EUR/GBP, EUR/USD, GBP/CHF, GBP/JPY
Posts: 75 since Feb 2011
Thanks Given: 10
Thanks Received: 35

I've used MB Trading for 4 years and I am very happy with them as a broker. Getting paid for limits is great. When I use mostly limit orders, there is definitely a positive impact on pnl.

However, their software dev team just isn't up to snuff. Their iPhone and iPad apps are a total fail(in comparison to other apps that are fantastic) and while Desktop Pro has made some serious strides and has features that no other platform has, the software still is slow, ugly, bloated and hard to use. It seems to me like they are continuing to let it suck on purpose.

In contrast to Dukascopy which has a fully functional platform on Java and iOS that is easy to use and fast and doesn't make you lose money because it sucks. I used MBT web twice, both times I lost money because the software failed to operate in the fashion it was intended. Desktop Pro is tradable software, the Java and iOS apps are garbage. The Dukascopy software has no such issue as far as I can tell.

I'm thinking about opening a small account with Dukascopy just to see how it goes. If it goes well, I will probably move to them once I have 100K+ and can keep the funds in my own bank.

Having to wire transfer in and out adds a hefty "transaction fee" that is not necessary with MB for a smaller account.

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  #78 (permalink)
 
bluemele's Avatar
 bluemele 
Honolulu, Hawaii
 
Experience: Intermediate
Platform: NinjaTrader
Broker: ATC/TT, AMP/Zen-Fire, AMP/CQG
Trading: TF
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DarkPool View Post
I've used MB Trading for 4 years and I am very happy with them as a broker. Getting paid for limits is great. When I use mostly limit orders, there is definitely a positive impact on pnl.

However, their software dev team just isn't up to snuff. Their iPhone and iPad apps are a total fail(in comparison to other apps that are fantastic) and while Desktop Pro has made some serious strides and has features that no other platform has, the software still is slow, ugly, bloated and hard to use. It seems to me like they are continuing to let it suck on purpose.

In contrast to Dukascopy which has a fully functional platform on Java and iOS that is easy to use and fast and doesn't make you lose money because it sucks. I used MBT web twice, both times I lost money because the software failed to operate in the fashion it was intended. Desktop Pro is tradable software, the Java and iOS apps are garbage. The Dukascopy software has no such issue as far as I can tell.

I'm thinking about opening a small account with Dukascopy just to see how it goes. If it goes well, I will probably move to them once I have 100K+ and can keep the funds in my own bank.

Having to wire transfer in and out adds a hefty "transaction fee" that is not necessary with MB for a smaller account.

If you live in the States and/or a citizen then I believe Dukascopy will not accept you anymore.

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  #79 (permalink)
 DarkPool 
Battle Ground, WA
 
Experience: Master
Platform: Multicharts DT & MBT Desktop Pro
Broker: MB Trading
Trading: GBP/USD, EUR/GBP, EUR/USD, GBP/CHF, GBP/JPY
Posts: 75 since Feb 2011
Thanks Given: 10
Thanks Received: 35


bluemele View Post
If you live in the States and/or a citizen then I believe Dukascopy will not accept you anymore.

I believe that it is true that Dukascopy Bank can no longer accept US clients bluemele. However, there is another branch that can open accounts for US clients. Look here: Dukascopy Europe | ECN Broker | Managed accounts | FX trading platform

Hypothetically, if one was properly capitalized it would not be difficult to affiliate oneself with a an entity that is capable of getting an account with Dukascopy Bank. :-)

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  #80 (permalink)
 
kami's Avatar
 kami 
kuala lumpur, Malaysia
 
Experience: Intermediate
Platform: Python
Broker: Oanda,IB,Lmax
Trading: FOREX
Posts: 31 since Mar 2011
Thanks Given: 13
Thanks Received: 10



DarkPool View Post
I believe that it is true that Dukascopy Bank can no longer accept US clients bluemele. However, there is another branch that can open accounts for US clients. Look here: Dukascopy Europe | ECN Broker | Managed accounts | FX trading platform

Hypothetically, if one was properly capitalized it would not be difficult to affiliate oneself with a an entity that is capable of getting an account with Dukascopy Bank. :-)

Thanks .. just noticed .. europe dukascopy also accepted credit/debit card funding and and the best is NO fee charges .. i need to close and reopen account.. It takes 1 day to receive the money instead of 2 weeks in switzerland .. it is much easier now ... i kinda like dukascopy more .. safety comes first and the pair that i trade the cost is cheaper than MBT n i think the cheapest and dont like MBT metatrader due to i unable to see level II data ... i will come back to them if they open up the ECN privilege to other platforms ..poor me because i have to stop using MC because of that ...

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