Dukascopy vs FXOpen ECN
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Thread: Dukascopy vs FXOpen ECN

  1. #1
    Hi.
    I have an (pretty little ) account with Dukascopy for the moment and everything appears to be fine, but when I compare spread between dukas and fxopen ecn it seems that the spread is a lot tighter at fxopen. So the question is - is it worth shing the broker? I know that it is rather strange to ask in their execution/slippage as it's an ECN, but nevertheless - are there any disadvantages with going with fxopen ecn in comparison to dukascopy?
    /Regards.

  2. #2
    Quote Originally Posted by ;
    Hi.
    I've an (pretty little ) account with Dukascopy for the moment and everything seems fine, but if I compare spread between dukas and fxopen ecn it looks like the spread is a lot tighter at fxopen. So the question is - is it worth changing the broker? I know it is rather strange to ask about their execution/slippage as it's an ECN, but still - are there any disadvantages with going with fxopen ecn compared to dukascopy?
    /Regards.
    You would be good with FXOpen AU that's a 100% ECN, Australian broker controlled by ASIC so they can't play games with you if they wanted to without getting closed down. You will also realize that FXOpen AU's ECN is a true ECN where traders are full participants in the market, both offering and accepting prices instead of simply trading off a feed.

    Slippage can go both ways against and for. This is the nature of the market.

    This is from my real account.
    Http://img15.imagefra.me/i5a2/jafar0..._3f7_u9brf.png

    On a single order I was slipped in my favor 0.3 pips for the goal. But on a stop loss I was slipped 0.1 pips worse. Still 0.2 pips up there

    The spread is insane too. I was eur/usd last night getting 0-0.2 pip spreads.

  3. #3
    Quote Originally Posted by ;
    You'd be good using FXOpen AU that's a 100 percent ECN, Australian broker controlled by ASIC which means they can not play games with you if they wanted to without getting closed down. You will also find that FXOpen AU's ECN is a true ECN where all traders are full participants in the market, both offering and taking prices instead of simply trading off a feed.

    Slippage can go both ways against and for. This is the nature of the market.

    This is from my actual account.
    Http://img15.imagefra.me/i5a2/jafar0..._3f7_u9brf.png

    On one...
    Best be wary:

    FXOpen Investigated By CFTC @ forexsoutheast.asia

    Can not take profits from FX Open @ forexsoutheast.asia

    Problems with FX Open

    my personal favorite, they are represented by a chap called (no prizes for guessing) #8211; http://forums.babypips.com/fxopen/42...ated-asic.html Calley. Coincidence?

    Never wise to blow your own trumpet.

  4. #4
    Quote Originally Posted by ;
    Best be Cautious:

    FXOpen Investigated By CFTC @ forexsoutheast.asia

    Can Not take profits from FX Open @ forexsoutheast.asia

    Problems with FX Open

    Oh and my personal favourite, they are Symbolized by a chap called (no prizes for guessing) -- http://forums.babypips.com/fxopen/42...ated-asic.html Calley. Coincidence?

    Never...
    The big difference here is law, especially Australian law. ASIC would close the organization down pretty fast if any funny business went on. FXOpen AU is not the same organization to what you recorded above so you know.

  5. #5
    Please stay with Dukascopy.
    It's a lot better Broker by far and your deposit is most likely the safest in between Brokers. They are a Bank. And if you exchange with Dukascopy EU, they are 100% owned by the Bank.

    Remember 1 thing,. . Quoted prices are extremely much irrelevant when comparing spreads between brokers.

    What I mean is that you're comparing price feed just from 2 brokers, it is not possible to understand in which one would give you the best price when you place an order.

    You would have to have real accounts in both Brokers, and put 100% synchronized transactions in the two of them, and lots of transactions, to truly understand which one gave you the best price.

    J.

  6. #6
    Quote Originally Posted by ;
    Please stay with Dukascopy.
    It's a lot better Broker by way and your deposit is most likely the safest in between Brokers. They are a Bank. And should you exchange with Dukascopy EU, they are 100% owned by the Bank.

    Remember one thing,. . Quoted prices are very much immaterial when comparing spreads between brokers.

    What I mean is that you're comparing price feed only from 2 brokers, it's not possible to know where one would give you the best price when you place an order.

    You would need to have real accounts in both Brokers, and set 100 percent...
    When you exchange on an ECN, you aren't only trading a price feed. In the case of FXOpen anyway, you're a genuine participant of this market both taking and offering prices. Your order seems from the order book for others to see. FXOpen's ECN technologies is a favorite with algorithm traders because it's clean and transparent. What you see is what you get. The market is laid out in front of you.

    As for safety of capital, no other regulator that I know of is as stringent as ASIC. They conduct regular tests and audits on businesses that they regulate. Australia has some of the strictest legislation for companies in the world.

  7. #7
    Quote Originally Posted by ;
    Best be Cautious:

    FXOpen Investigated By CFTC @ forexsoutheast.asia

    Can't take profits out of FX Open @ forexsoutheast.asia

    Problems with FX Open

    Oh and my personal favourite, they're Symbolized by a chap called (no prizes for guessing) #8211; http://forums.babypips.com/fxopen/42...ated-asic.html Calley. Coincidence?

    Never...
    Yeah, this Jafar dude is cheerleading the FXopenSCAM on the whole internet, I understand him from Talkgold. .

    STAY AWAY from FXopenSCAM, I got screwed for $3400, therefore called technical issues Once I tried to shut a losing position

  8. #8
    Quote Originally Posted by ;
    Yeah, this Jafar dude is cheerleading the FXopenSCAM on the entire internet, I know him from Talkgold. .

    STAY AWAY from FXopenSCAM, I have screwed for $3400, so called technical issues once I tried to shut a losing position
    FXOpen AU is regulated by ASIC. An account with us means you are completely protected. Scamming is not possible in Australia.

  9. #9
    Quote Originally Posted by ;
    If you trade in an ECN, you are not only investing in a price feed. In the case of FXOpen anyway, you are a true participant of this market both offering and taking prices. Your order appears from the order book for others to see. FXOpen's ECN technologies is popular with algorithm traders because it is clean and transparent. What you see is what you get. The market is laid out in front of you.

    As for security of capital, no other regulator I know of is as stringent as ASIC. They conduct regular checks and audits on businesses they regulate. Australia...
    Comparing regulations which apply to Currency Market brokers between Switzerland and Australia is like comparing an elephant with an ant. In Switzerland you can provide forex trading only with a BANK licence with their corresponding Minimum paid capital require to get a BANK. In Australia anybody with a couple dollar could be a forex Broker.

    But in the other hand, strict regulations means nothing. Regulator are constantly late to intervene is case of irregularities. If the money goes, nothing a trader can perform.

    So far as I am aware, Australia forex brokers aren't insured by Compensation Funds, such as forex traders are trading with brokers in Switzerland, England and the European union... are they? .

    If the Broker belongs BK, there is no recourse to recover any money.

    Trading with Dukascopy, a trader is guaranteed up to 100 000 CHF from the Switzerland Compensation Fund.

    J.

  10. #10
    Quote Originally Posted by ;
    FXOpen AU is regulated by ASIC. An account with us means you're totally protected. Scamming is not possible in Australia.
    Regulation does not mean you are protected from the games brokers play with you, like they did with me

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