How to tell if Dukascopy sucks, page 6 of 7

Example 4

After I politely ended the telephone call, I attempted to do the "merges" that Herr Dryer recommended. However, at that point my Dukascopy platform kept refusing every single "merge" transaction that I initiated.
Let me expand on this. According to his instructions, I needed to:

Select all of my open positions, then
Right click on one of them, and then
Click "merge".

However, when I followed these instructions, absolutely nothing happened.

Therefore, using my trading platform, I repeated these three steps. I did them again and again. However, it was a waste of time. After 10 to 15 additional minutes and 10 to 15 additional attempts on my part it became increasingly clear to me that my Dukascopy platform was buggy, user unfriendly. Or, more likely, all "merge" transactions were disabled. Why? Because the disabling of "merge" transactions was one additional dirty trick in Dukascopy's bag of dirty tricks.

Why did they disable it? I couldn't tell for sure. However, the most likely explanation was that merge transactions were not in Dukascopy's best interest. Therefore, Dukascopy preferred that I closed, as opposed to merged, my 10 open positions. Why? Because if I closed my 10 open positions, then they could charge me up to 3.33 pips commission per round-trip trade.

And, of course, as you might have guessed, they did eventually charge my account 3.33 pips commission per round-trip trade. Why? Because:

At Dukascopy the customer is always wrong,
Dukascopy platforms were designed and developed for the benefit of Dukascopy,
And no, Dukascopy's platforms were not developed for you and me.

So, based on this example, can you tell how easy it is to lose money to Dukascopy? And, based on this example, can you tell that Dukascopy sucks?

Question 1: Why did you say "3.33 pips per round-trip trade"?

Question 2: Why don't you use the theoretical figure of "1.11 pips per round-trip trade"?

Answer: Because when you open a long position, then, during its lifetime, that long position will attract a 1.11-pip charge.

However, whenever you attempt to exit that long position, a fictitious short position is opened by Dukascopy.

Then, during its lifetime, that fictitious position will also attract a 1.11-pip charge.

And then, when you attempt to merge your two open positions, when, in your name, an additional fictitious position is opened by Dukascopy, then, during its lifetime that additional fictitious position will also attract a 1.11-pip charge.

And, if you add up all of these 1.11-pip charges, then you will find that, instead of owing Dukascopy 1.11 pip per round-trip trade (that you initiated), you will owe Dukascopy (1.11 + 1.11 + 1.11 =) 3.33 pips, per round-trip trade (that you initiated).

Based on this example, can you tell how easy it is to lose all of your money to Dukascopy? And, based on this example, can you tell that Dukascopy sucks? ...More >>

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