Dukascopy Bank SA is a Swiss forex broker that offers online trading services through its own platform called JForex. It is available as desktop, web and mobile versions and provides access to Swiss Forex Marketplace (SWFX). The bank claims it is ‘a unique centralized-decentralized marketplace model’ that combines liquidity of other marketplaces and banks.
The desktop version requires downloading and installing an executable file of 42 MB and occupies near 300 MB after installation. It is java-based and some users may not like it because working in a java environment implies a higher load on the computer’s resources.
Following the installation and logging into the platform, the default workspace is loaded. It is like the web-based version so that working with both versions would be pretty much the same. Initially, there are three windows and each of them can be hidden, freeing space for others. Orders can be placed from a dedicated window located at the left side. There are two big buttons showing buy and sell prices and corresponding bid and offer quantities. That represents the ECN model and Level II quoting. Place Bid and Place OFFER buttons are below buy and sell ones. They can be used for placing pending orders. Entry orders can be set in fields defining the type of order, maximum slippage and prices. A separate section showing market depth (quantities and bid/ask prices of the liquidity providers) is below that fields. The number of providers can be changed to 3, 5 or 10 by right-clicking on it. Active instruments are displayed below that window. There is one more window compare to the web version called Navigator and is located at the bottom of New Order window. It allows quick access and modifying of the charts, strategies, plugins and templates, representing them as a tree-model.
If One Click options is enabled, market orders are filled directly, without the need of submitting them. Otherwise, a click on the buy or sell button opens an order preview window. Then the market order should be submitted or cancelled. Open positions appear into the Positions window where they can be closed or modified by the options from the dropdown menu when right clicking on it. There are four tabs displaying Position Summary, Positions, Orders and Messages.
The main part of the workspace is occupied by charts. There are eight chart windows initially. They can be maximized, closed, undocked from the platform or arranged in tabs. Charts can be displayed as candlesticks, bars, lines or database of values from a tick to 1-month time-frames. Customers can choose between bid and ask prices to be shown. Drawing tools include lines, rays, segment, polyline, geometric shapes, channels and Fibonacci retracement. There are 46 indicators arranged in groups and there is a link to the economic calendar as well. Zooming can be done by buttons or by dragging x or y axis. Orders can be made from charts directly by right-clicking and choosing the desired action (pending or market orders).
There is a menu bar at the top of the platform where the basic features can be used. The customized workspace can be saved, the default one can be loaded or the theme can be changed from dark to light. Customers can view reports, launch market news (shown in a new tab in the position window) or use other useful features such as advanced forex calculator and economic calendar. Social Signal Trading allows customers to follow the activity of selected traders.