Maratamus Reviews

Review for

Bratislava, Slovakia,
Dec 2, 2021,
Registered user

Horrible overnight spreads and high margin on WTI and BRENT trades

Service use: Live

I have been with this broker for almost 2 years and today I closed my account. I wanted to leave OANDA few months ago, but I was holding short of DAX that paid out just few days ago. The main reason is:

1. Overnight swaps, I was holding position on DAX, SP500 and other indices and every day they deducted huge amounts of swaps from my account. Sometimes it was around 0.3% to 0.5% of my account and weekends were almost 1%. So if you hold a trade for a month which is 20 trading days, you pay them astonishing 5 to 10% monthly fee of your invested capital. I have to mention I was always full margin, but 10% monthly from my equity? Way too expensive.

2. Today I was margin closed out in my WTI long position, probably 0.30 points above the low. I was full margin, but, I opened an account with other broker and opened a WTI long position and found out that OANDA will let you open trade size 10 times bigger then the other broker by which they increase your risk substantially and as today, the price of oil fell so much I was margin closed, but if I went full margin on the other broker account with WTI long, I would lose twice as less money than in OANDA. Unfortunately for me, the price reversed and I would have all my money back on my other broker account, compared to a loss at OANDA, I reiterate, as they allow clients to open much much bigger position on oil.

I am very disappointed how such a broker is competitive, please be very careful with them, especially aggressive trades like me.

  2 traders have found this review helpful

Review for

Bratislava, Slovakia,
Sep 21, 2016,
Registered user

I am with this broker for several years, but since they launched the 100% deposit bonus, my trading is the worst in my career. Here is why. The turnover you need to make in order to get the bonus is so high that you are forced to overleverage your account. My bonus amount is cca. 2750 EUR and when I deposit 1000 EUR I have a buying power of almost 1.000.OOO currency unit or 10 lots if you want. And I had to trade a volume of 289.000.000 or 289 lots in order to get the bonus so it means every day I should trade 10 lots and expose my account to a huge risk. So I did it, but as the price moved few pips against me, the 1000 EUR deposit was eaten and trade was close as they don't allow you to eat the bonus amount to protect it. On the other broker account I have cancelled all deposit options and I should have done it with Dukascopy as well. I know it is all my fault, but they should never introduce such an bonus in very risky environment increasing the trader's risk. I was a totall idiot that I thought I would get the bonus credit. It is a dream for 99% traders. Now I get it. Thank you Dukascopy!
Reply by Dukascopy Support submitted Oct 19, 2016:
Dear Martamus,
In Dukascopy we are truly sorry to hear you've experienced losses when using the deposit bonus program. At the same time, please mind that choosing the bonus program is entirely optional, as well as using higher leverage than the default one.
We hope you will stay loyal to Dukascopy and keep using our services and products. Should you have any further questions, please do not hesitate to contact us and we will be more than happy to help you out.