After July 16th 2011, US clients can continue to use Dukascopy’s Trading Systems (software – Jforex) with Dukascopy’s US partner. Unfortunately, the US partner has not been mentioned quite just yet but, I will update this post once I have the details. We’ll continue to have access to the feature enriched Jforex platform. However, we will be limited by the US regulations such as obeying by the FIFO ( first in, first out), no hedging, and lower leverage rules. We’re basically leasing the software from Dukascopy and being kicked out their front door unless you are an Eligible contract participant (millionaire).
FairTradingTech teamed up with Dukascopy as a third party provider to finally offer MetaTrader’s popular trading platform to Dukascopy’s customers for a small IB commission. The application process is lengthy and similar to Dukascopy’s application but the added steps would pay off in the long run as Dukascopy’s deep liquidity, honest ECN, and financial solvency defines them as the best FX broker in the world. With benefits like these, I’ve been waiting patiently to use my MetaTrader tools on my Dukascopy account in an efficient way for a long time. Unfortunately by the time a solution was available and my application approved, I will only have 30 days before my account is moved to US Soil. At that point, all the benefits that once enticed me to trade with Dukascopy will end and prolonging the status of my account will no longer be meaningful. Another disappointment from the regulatory environment found within the USA.
