Forex Broker Dukascopy

Getting Started

Hey guys! I found a super cool list of everything a new forex trader would need to get started! Originally made by to nate1357. Link to original thread http://redd.it/328cjr
Free Resources
Education:
www.babypips.com/school
www.informedtrades.com/f7
www.forex4noobs.com/forex-education
www.en.tradimo.com/learn/forex-trading
www.youtube.com/useTheTradeitsimple
www.traderscalm.com
www.orderflowtrading.com/LearnOrderFlow.aspx
www.profitube.com
Calendars:
www.forexfactory.com/calendar.php
www.dailyfx.com/calendar
www.fxstreet.com/economic-calendar
www.forexlive.com/EconomicCalendar
www.myfxbook.com/forex-economic-calendar
www.investing.com/economic-calendar
Free News Websites:
www.forexlive.com - Daily live news, analysis and resources
www.financemagnates.com - FX industry news and updates
www.fxstreet.com - Daily news, analysis and resources
www.forextell.com
www.forexcup.com/news
www.bloomberg.com/markets
Forums:
www.reddit.com/forex
www.forums.babypips.com/
www.forexfactory.com/forum.php
www.elitetrader.com/et/index.php
www.forex-tsd.com/
www.fxgears.com/forum/index.php
www.trade2win.com/boards
Margin / pip / position size calculators
www.myfxbook.com/forex-calculators
Brokerages:
There are many factors to consider when choosing a brokerage. Regulations typically force US traders to only trade at US brokerages, while international traders have more choice. After considering location you need to consider how much capital you will start trading with as many have minimum deposit levels. Once you’ve narrowed that down you can compared spreads and execution. ECN brokers execute your orders straight through to their liquidity providers, while market maker brokers may pair up your trades with other clients. Market maker brokers typically will partially hedge your positions on the interbank market. Many consider this to be a conflict of interest and prefer to trade at an ECN broker who would have an active motive to see you succeed. Lastly, brokers run inherently risky business models so it is important to consider the risk of bankruptcy.
www.forexpeacearmy.com - Aggregates broker reviews. Be warned though that people only seem to make bad reviews.
www.myfxbook.com/forex-broker-spreads - Live comparison of executable spreads
United States & International-
-Interactive Brokers
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
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[35]
www.swing-trade-stocks.com/money-management.html[36]
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.
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Dukascopy jForex chart periods #6 DukasCopy Review By FXEmpire.com Dukascopy - YouTube Does Dukascopy stop hunt in forex trading or run a secret B book DukaScopy Review - it is a scam? Trading with Doc 10/06: Forex Pairs that Signal other Instruments

This widget shows average spreads of currency pairs, tradable on SWFX ECN in a clean comprehensive layout. You can view spreads for all instruments or filter, which currenceis to display. Next to each instrument is an icon to open the respective live chart. You can also specify the period: daily, monthly or quarterly. 2020 Best FXResearch; 2020 Best Technical Analysis Platform. 2019 Best Forex ... How many forex pairs and CFDs are available to trade? OANDA provides traders 70 currency pairs (e.g., EUR/USD) compared to Dukascopy's 60 available pairs. Forex pairs aside, Dukascopy offers traders access to 593 CFDs while OANDA has 55 available CFDs, a difference of 538. Overall, between Dukascopy and OANDA, Dukascopy is the better forex broker. Dukascopy is an online broker and bank headquartered in Europe. Users can trade forex, CFDs and binary options on the broker’s JForex 3 platform or MetaTrader 4 (MT4). This review will detail Dukascopy’s offering, covering minimum deposit and margin requirements, withdrawal options, trading tools, spreads, leverage, and more. Dukascopy Overview Dukascopy Bank has signed a new partner for its Open Banking ecosystem. This is already the third crypto exchange partnership after SCX and ZBX within the same framework of the relationship. The partnership principle is based on the simple concept – every private person may open a standard MCA account at Dukascopy Bank and separately an account at the Exchange. 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 ... Dukascopy offers a wide range of spot forex pairs, CFDs, and precious metals for traders. This broker has a 4-star rating on Trustpilot as well. This broker has a 4-star rating on Trustpilot as well. Payment protection is provided for Swiss accounts for up to CHF 100,000 in deposits and for European clients for up to EUR 20,000. Dukascopy offers a total of 653 symbols to trade across multiple markets covering forex and CFD traders with 60 forex pairs and 593 CFDs. Dukascopy also offers cryptocurrency trading with CFDs on significant crypto assets, and the actual underlying (non-CFD) across its own launched cryptocurrencies. Dukascopy Bank: Dukascopy Bank has over 148 million Swiss francs (CHF) in assets on its balance ...

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Dukascopy jForex chart periods #6

Founded in 1998, Dukascopy is a one of a kind Swiss online forex broker and the bank that offers its clients online trading services for currency pairs, Contract for Differences (CFDs) and binary ... 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 ... DocDow is considered the most experienced trader from the Dukascopy Community. He shares his trading numbers daily and has an hour-long chat with other traders. ----- SEE MORE at the Dukascopy ... Trading in the forex market is quite basic. All currency is done in pairs because one needs to convert a specific currency to another. Each currency has a set value or price and this can be ... DocDow is considered the most experienced trader from the Dukascopy Community. He shares his trading numbers daily and has an hour-long chat with other traders. ----- SEE MORE at the Dukascopy ... Forex 100% Winning Secret Price Action Strategy Most Successful Forex Strategy loss Recovery - Duration: 17:07. Forex Visit 6,218 views 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 ...

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