JForex is compatible for Mac as well as Windows. Mac devotees are often forgotten by the forex fraternity, but not at NSFX.
Dukascopy Review – Substantial Analysis & Findings
This ensures that irrespective of desktop operating system, traders can immediately enjoy the unique benefits of trading on the best forex trading platform. Traders can easily monitor the market, equity, current exposure, leverage and performance as well as managing orders and positions. JForex is an ideal platform for technical traders with technical indicators on offer as well as a proprietary market scanner providing live trading signals.
With the Visual Strategy Builder and Optimiser application, automated traders can now build strategies in an intuitive way and test them in the most advanced trading environment.
- Dukascopy Broker FOREX ECN. Description and opinions. Program Tax FREE.
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Automated traders can also opt to test and trade with MT4 automated trading systems Expert Advisers through a third-party MT4 bridge provider. On the left, the standard displays a module for concluding orders, market depth as befits the ECN platform , a list of instruments and a Navigator - something similar to the one we know from MT4. The entire side window can be hidden with one click, which is very convenient and quick. You can only stick to a too small window with instruments, so you have to scroll through the list often if someone uses many symbols - you can improve the situation a bit by connecting them to the Navigator window but it could be better all the time.
You can also see some shortcomings in the translation of the Polish version, but it is nothing very glaring and will probably be corrected in the next updates.
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In the lower part you will find a list of open positions and pending orders. Each tab can be detached from the platform and led, for example, to the screen of a second monitor - convenient and helpful. Additionally, you can arrange all tabs next to each other in the selected order or, for example, enlarge only one on the left side, and leave the rest on the right in the classic form. There are a lot of configuration options and this deserves a big plus.
Regulation and Security
The small downside is the font size of the account balance information, which is quite small and placed on the edge of the bottom left side of the platform, but it's not something that you can't get used to quickly. At the very beginning of this section, it is worth addressing the issue of the transaction volume, because here we are dealing with more than just lots known to everyone from MT4. Dukascopy in the JForex 3 version gives you the option to choose the volume for currencies between units, lots, thousands and millions.
And here is a short diagram:. Confirmation of completing the order with units. The trader can choose the volume unit according to his preferences. For other instruments, the choice is smaller, where for precious metals we can choose between ounces and thousands, and with CFDs there is no choice - only contracts are available. It is also worth adding that Dukascopy accepts an unequal volume, i. Nevertheless, the minimum is still 0. An excellent solution is the ability to define the automatic addition of parameters to a newly opened position such as Stop Loss, Take Profit, Trailing Stop, and even the maximum default slip, distance setting of the order awaiting the current market price and order validity time.
Review of the JForex 3 trading platform
This is a great convenience for traders operating on many different markets at the same time. After such a pre-sale, we can proceed to enter into transactions. As a standard, you can open transactions in three ways:. The first way is, in my opinion, the most convenient and the fastest. This is a big plus. Pending orders themselves can be modified from the chart level by moving them up or down after double-clicking, even before the moment of its conclusion just select SL on the left in the window and then move the level on the chart.
It's a standard nowadays, but let's imagine that these years ago platforms generally didn't offer such features - apart from JForex The second option is to trade from the chart. Less intuitive but it can be just as fast, especially when it comes to adding pending orders.
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All available options are available by right-clicking on the graph. Market Review, option no. Least popular because a bit hidden. It is especially useful for people who work on more than one monitor or desktop and trade more than one instrument at the same time. Under the left module we have access to the so-called DOM, that is the depth of the market showing the current "pool" of volume in given price ranges, as well as the total value.
Most retail traders will not be interested in this information, therefore there is an option to hide the DOM, and thus gain more free space in the left column of the platform e. All position parameters can be edited in the Positions tab at the bottom of the platform by clicking on individual instruments.
Trailing stop. This mechanism deserves a separate paragraph. Dukascopy offers us an extraordinary solution.
Well, Trailing Stop, once set, is active immediately. This means that it immediately sets the Stop Loss at the distance indicated in TS and thus works not in relation to the point set in TS the place where our position begins to earn as many pips as we set as a parameter - this is in MT4 but from the market price when Trailing Stop is added to the item. It sounds complicated, so I will use an example. Example The market price of the instrument is 1. We opened a long position at 1. The Stop Loss is set to 1.
If we now set the Trailing Stop at 20 pips, nothing will happen - the Stop Loss will stay in the same place and start moving up immediately when the rate jumps to 1. However, if we set the Trailing Stop to 10, it will automatically our The stop loss will move to 1. Is it good or bad? It depends on your taste and needs. I will let you evaluate it individually. Chart support.
Managing charts on JForex is a pleasure. Of course, assuming that we will know all the possibilities and we will easily find the functions we are interested in which will take us a moment. And there are quite a lot of these.
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We have automatic positioning of charts next to each other in the same size or by horizontal and vertical. You can quickly clear the graph from an object or close it all. The colors of the charts can be modified in virtually every aspect according to any chosen, or even personally configured, color.
Of course, the templates can be saved and stored in JCloud. There are three standard types of charts such as line, candlestick, and bar charts, and two less common ones - area and table. It is worth noting that JForex allows you to display charts at both the Ask and Bid prices, while most platforms draw them at Bid and that's it. A huge advantage is the wide range of available time intervals, and above all, the ability to Create them yourself! Yes, JForex offers the possibility of your own intervals without major restrictions.
And this is based not only on time but also on price. This means we can create any Renko, TF 6-tick or 9-day charts. Nothing limits us here. Each of the created intervals immediately goes to quick access on the platform. A powerful plus for Dukascopy. The platform's settings include a whole series of additional platform configuration options. This also includes the option of flat flats filtering when the price does not change eg breaks in the quoting of instruments , changes in the priority in displaying elements in charts or time zone selection still no such option in MT4.
Indicators and tools.