How to tell if Dukascopy sucks, page 1 of 7By Nevin Struckmeyer
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How to tell if Dukascopy sucks? The author concludes Dukascopy is unpleasant and overpriced, therefore Dukascopy sucks, and you're a fool if you use them.
PurposeWhy would you write a review of Dukascopy? Let me guess, you lost money to them, and now you're blaming the loss on them. No, that's not it. I didn't lose any money. However, if you're a forex (foreign exchange) novice (beginner, newcomer, newbie), this review is for you, because chances are you will lose your money to Dukascopy.
What is Dukascopy?What is Dukascopy? It's a tiny, little, mostly unknown Swiss bank and forex broker that found it easier to get a bank charter, than try to pass the required tests for a forex broker license. Dukascopy sucks because:
- Their services are overpriced,
- Their employees are unpleasant,
- Their customer service is terrible, and
- The dirty tricks they use are appaling.
Not a bankBank of America is a bank, the Royal Bank of Scotland is a bank, and the Union Bank of Switzerland is a bank. But Dukascopy? You must be kidding. Dukascopy is just a small outfit operated by a couple of jokers. They don't work like a bank. They don't even behave like a bank. Real banks don't trade against you. Real banks don't have bags of dirty tricks they use against you. I would never send them my money.
CautionI suggest you avoid Dukascopy, if you're a U.S. citizen or U.S. resident, because Dukascopy will openly discriminate against you, which is wrong — therefore Dukascopy sucks.
FINMAI'd like to call for an investigation by the FINMA, which is Switzerland's main market regulator. No, not because I've lost money. No, I didn't lose any money. But because Dukascopy's bag of dirty tricks (trickery, deception, deceit, treachery, duplicity, craftiness, fraudulence, deceptiveness, financial sleight of hand) should not be tolerated.
CautionIf you're a forex trader, I suggest you avoid Dukascopy, because they will:
- Overload you, by giving you page after page of mostly irrelevant trade history info you don't need,
- Grab your money by overcharging you on spreads and commissions,
- Seize your money by trading against you, or
- Get rich quick at your expense.
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