Dukascopy Bank Spreads, Commissions and Fees - Forex ...
Dukascopy Boasts EUR/USD Spread of Meager 0.2 pips
How Should I Model a Spread for Commissions in Simulations?
I'm still doing a lot of backtesting of some software I have been writing to try to trade forex. I got to the point where I realized that I don't understand commissions with forex brokerages. I'm kind of hoping I'm being unnecessarily cruel with myself in the commissions I'm charging to myself. I have some EURUSD data I downloaded off of dukascopy that I've been using in the simulations. I saw on Oanda their average spread for EURUSD these days is 1.2 pips. It can go down to 0.8 and it sometimes spikes above that. So what I have been doing in the simulation is using the next bar's closing price, plus 0.00012 for my long entrance price. For exiting a position, I use the next bar's closing price, minus 0.00012. I was looking at that and was wondering if I'm actually using a spread of 2.4. Am I being too hard on myself? I assume that brokerages that charge a spread don't really change anything based on amount of margin used, because it's reflected in the price used in the transactions. Is that true? I also wondered if brokerages that charge a spread just bake it into the prices in their data feed. I've seen a lot of advice to just open an account and start trying it out there. I'd like to forward test, but I really don't want to go through all the motions if I've proven my strategy is already too risky for my tastes without all that.
ECN. Used most by professional traders. Difficult platform for beginners
Minimum deposit $10000 (or $3,000 if under 25yo) * Well diversified -Oanda
Market maker. Second largest retail FX brokerage in the US. Easy platform for beginners.
No minimum deposit
Not well diversified, but well capitalized -Gain Capital (whitelabel forex.com) *Market Maker *Fair spreads *Minimum deposit $250 *Well diversified -FXCM Inc
ECN. Largest retail FX brokerage in the US
Minimum deposit $2000
Not well diversified. CAUTION: FXCM nearly went bankrupt in Jan-2015 due to a lack of diversification and low capitalisation. As a result FXCM LLC was bailed out with a large loan which may prove difficult to pay back. Be warned that their business may not be sustainable in the long term. -MBTrading
ECN. Mid-sized retail FX brokerage
Minimum deposit $400
International Only- -LMAX (whitelabel DarwinEx) *DMA broker based in the UK. Note that as a DMA broker LMAX eliminates the ability for LPs to last-look transactions. This may result in reduced liquidity during volatile times as liquidity providers would be likely not to risk posting liquidity to LMAX's pool. *Tight spreads *Minimum deposit $10,000 *Fairly well diversified -Dukascopy *ECN based in Switzerland, but available elsewhere depending on local regulations. *Tight spreads *Minimum deposit $100 *Fairly well diversified -IC Markets *ECN based in Australia *Fair spreads on standard account, tight spreads on professional accounts. *Minimum deposit $200 *Fairly well diversified -Pepperstone *ECN broker based in Australia. *Fair spreads on standard account, tight spreads on professional accounts. *Minimum deposit $200 *Not well diversified Software / Apps: Desktop/mobile
Apps are typically broker dependent. Some brokers have their own proprietary software, while others lease common software like Metatrader or NinjaTrader. Some software has a large development community for indicators and EAs.
Terminology/Acronyms: www.forexlive.com/ForexJargon - Common terms and acronyms FAQ: I need to exchange money, how do I do it? This isn’t what this sub is for. Your best bet is using your bank or an online exchange service. Be prepared to pay a hefty fee. I have money in one currency and need to exchange it into another sometime in the future, should I wait? Don’t ask us this. We speculate intraday in FX and shouldn’t be relied on to tell you what’s best for you. Exchange the money when you need it. I have an FX account, should I start trading demo or live? This is highly debatable. You should definitely demo trade until you have mastered how to use the trading platform on desktop and mobile. After that it’s up to you. Many think that the psychology of trading live vs demo trading is massively different. So it may pay to learn to trade live. Just be warned that most FX traders lose almost their entire first account so start with a low affordable balance. What’s money management? Money management is a form of risk management and is arguably the most important aspect of your trading when it comes to long term survival. You should always enter trades with a stop loss - the distance of the stop allows you to calculate how large of a percent of your account balance will be lost if your trade stops out. You can run a monte carlo simulation to figure out the risk of having a number of trades go against you in a row to drain your account. The general rule is that you should only risk losing 1-4% of your account per trade entered. More on this here: www.investopedia.com/articles/forex/06/fxmoneymgmt.asp www.swing-trade-stocks.com/money-management.html What about automated trading? Retail FX traders have been known to program “Expert Advisors” (EAs) to automate trading. It’s generally advisable to stay away from that until you’re very experienced. Never buy an EA from a developer because the vast majority of them are scams. What indicators are best? That’s up to you to test and find out. Many in this forum dislike oscillating indicators since they fail to capture the essence of what moves price. With experience you will discover what works best for you. In my experience indicators that are most popular with professional traders are those that provide trading “levels” such as pivot points, fibonacci, moving averages, trendlines, etc. What timeframe should I trade? Price action can vary in different timeframes. In longer term timeframes the price action and fundamentals are much more clear. Unfortunately it would take a very long time to figure out whether or not what you’re doing is successful on longer timeframes. In shorter timeframes you can often tell very quickly if what you’re doing is profitable. Unfortunately there’s a lot more “noise” on these levels which can prove deceptive for those trying to learn. Therefore the best bet is to use a multi-timeframe analysis, working from top-down to come up with trades. Should I trade using fundamental analysis (FA) of technical analysis (TA)? This is a long standing argument in these forums and elsewhere. I’ll settle it here - you should have an understanding of both. Yes there are traders who blindly ignore one of the other but a truly well rounded trader should understand and implement both into the analysis. The market is driven in the longer term through FA. But TA is necessary to give traders a place to enter and exit trades from a psychological risk/reward standpoint. I’ve heard trading Binary Options is an easy way to make money? The general advice is to stay away from binaries. The structure of binary options is so that when you lose the broker wins. This incentive has created a very scammy industry where there are few legitimate binary options brokers. In addition in order to be profitable in binaries you have to win 55-65% of the time. That’s a much higher premium over spot FX. Am I actually exchanging currencies? Yes and no. Your broker handles spot FX is currency pairs. Although they make an exchange at the settlement date they treat your position in your account as a virtual currency pair. Think of it like a contract where you can only buy or sell it as a pair. In this sense you are always long one currency while short another. You are merely speculating that one currency will appreciate or depreciate vs another. Why didn't my order fill? Even if price appears to cross over a line on your chart it does not guarantee a fill. Different charting platforms chart different prices - some chart the bid price, some the ask price and some the midpoint price. To fill a limit order price needs to cross your limit's price plus the spread at the time that it is crossing. If it does not equal or exceed the spread then it will not fill. Be wary that in general spreads are not fixed. So what may fill at one time may not at another.
Not every broker publishes average spreads data, and pricing structures vary. Based on our thorough annual assessment, Dukascopy offers better pricing overall for traders. Is Dukascopy or OANDA safer for forex and CFDs trading? At ForexBrokers.com, we track where each forex and CFD broker is regulated across over 20 international regulator databases. Here's our findings. OANDA holds 6 global ... Is Core Spreads or Dukascopy better? Well, It depends on whether you trade forex, crypto, indices or stocks, and what features matter to you. Compare Core Spreads and Dukascopy (plus one other) in this up-to-date comparison of their fees, platform, features, pros and cons, and what they allow you to trade in 2020 Dukascopy traders may benefit from the narrowest Forex trading spreads in the industry. These are the average Dukascopy EUR/USD spreads during 2012-2015 (European trading session): • October 2012 - 0.57 pips EUR/USD spread • January 2013 - 0.51 pips EUR/USD spread • February 2013 - 0.46 pips EUR/USD spread • March 2013 - 0.36 pips EUR/USD spread • June 2013 - 0.26 pips EUR/USD spread ... The spreads between the ECN and standard accounts are going to be the same with Dukascopy, with the difference being the additional commission rate. These will vary depending on how many trades you are making, your current balance and your net deposits. For the EUR/USD as an example, the average spread on the platform is 0.32 pips. Its final ... The historical achievement for Dukascopy also ranks it amid the Forex brokers with the lowest spreads in the world. A rival would perhaps be IC Markets, the Australian company which pledges an average spread of 0.1 pips for the EUR/USD. FxPro also has some of the tightest spreads out there: the spreads for the popular currency pair for the cTrader platform start from 0. Dukascopy fees and spreads list starts from 0.1 pips. Dukascopy has a low and incredibly competitive spread list when compared to what other brokers are offering where a currency pair such as the EUR/USD has an average spread of 0.1 pips. Dukascopy only offers traders the option between two trading accounts when registering, namely: Forex ECN Account – minimum $100 deposit, maximum leverage ... Thanks to its JForex platform suite, Dukascopy provides forex traders industry-leading trading tools and market research, which includes our favorite mobile app for 2020. Drawbacks include unreliable customer service and a narrow offering of tradeable markets. Top Takeaways for 2020. After spending five months testing 30 of the best forex brokers for our 4th Annual Review, here are our top ... The Average Spreads widget shows difference between bid and ask prices for different trading sessions (Asian, European and North American sessions). It is possible to view spreads for different time periods (daily, monthly or quarterly) and see distribution of spreads for respective time frame. 2020 Best FXResearch; 2020 Best Technical Analysis Platform. 2019 Best Forex Trading Apps; 2018 Best ... Average Spreads. Average Spreads. Das Widget für die durchschnittlichen Spreads zeigt die Differenz des Bid und Ask Preises für die unterschiedlichen Handelssitzungen an (Asien, Europa und Nordamerika). Es ist möglich, sich die Spreads für unterschiedliche Zeiträume anzeigen zu lassen (täglich, monatlich oder per Quartal) und die Verteilung der Spreads für die entsprechenden Zeiträume ...
Brokers Shocking Truth: ECN, Dealing Desk, Spikes, Spread Manipulation and other dirty tricks... - Duration: 5:40. marklarsenreview 70,893 views. 5:40. 95% Winning Forex Trading Formula - Beat The ... It is time to check the quality of your broker's price feed with the Dukascopy spike controller. Euro/Dollar’s daily average spread is point 28 pips and maximum separation has been 1.1 pips ... This is the Dukascopy Spike Controller for Tuesday with a closer look at the benchmark interbank price stats. Euro/Dollar’s daily average spread is point 33 ... New review API update note for Oanda and Dukascopy forex trading brokers by Bryan Downing. 27:05. Dukascopy vs Oanda vs FXPro forex API trading by Bryan Downing. 18:28. Playing with great progress ... Renko Charts and Moving Averages With Discipline = Profits - Duration: 17 ... Dukascopy vs Oanda vs FXPro forex API trading - Duration: 18:28. Bryan Downing 5,683 views. 18:28. How a DNS Server ... Check how fair your trades have been executed on this Tuesday by watching the Dukascopy Spike Controller. Euro/Dollar’s daily average spread is point 3 pips and maximum separation has been point ... This is the Dukascopy Spike Controller for Tuesday, where we take a closer look at the benchmark interbank price stats. Euro/Dollar’s daily average spread is point 31 pips and maximum separation ... This is the Dukascopy Spike Controller for Tuesday with a closer look at the benchmark interbank price stats. Euro/Dollar’s daily average spread is point 32 pips and peak separation has been 1 ... Dukascopy TV continues to target devious brokers by supplying you with the definitive benchmark spreads stats for this Thursday. Euro/Dollar’s long term average spread is point 35 and pips peak ... The Dukascopy TV continues its ongoing quest for fair market conditions with Wednesday's Spike Controller. Euro/Dollar’s long term average spread is point 33 pips and peak separation of 4.2 pips ...