‘JForex’ is the name of the online platform developed by the brokerage company Dukascopy Bank SA. The company says it is ‘a unique centralized-decentralized marketplace model’ that offers deep liquidity. It is Java based and occupies near 300 MB after installation.
The workspace is a lot like the web-based version. There are three modules that can be enabled or disabled. You can place orders by pressing buy or sell buttons in the Orders module. Market data is shown in depth, representing the ECN model and Level II quoting. Pending orders are placed from bid and ask buttons below. You can also set the maximum slippage allowed here. Detailed view of the market depth (quantities and bid/ask prices of four liquidity providers) is below that module. Active instruments are shown at the bottom of the New Order module.
There is one more window compared to the web version called Navigator, which allows quick access and modification of charts, strategies, plugins and templates. Scalpers will appreciate the 1-Click option and, if enabled, market orders are executed directly without the need to submit them. Otherwise, the Order preview module appears, and you should submit or cancel the order in it. Already open positions are displayed into the Positions module where you can modify or close them.
The chart module is in the center of the space and it can be maximized, closed, docked, undocked, or arranged in tabs. The charts types include candlesticks, bars or lines. There are several drawing tools such as lines, rays, segments, shapes, and Fibonacci retracement. Over 40 indicators are available. The link to the economic calendar is also here. Zooming can be done by buttons or by mouse scroll wheel. You can trade directly from the chart window by right-clicking on it.
All basic features are available through the menu bar at the top. You can view reports, launch market news or use other useful features such as advanced forex calculator and economic calendar. There is a kind of social trading – Social Signal Trading that allows customers to follow the activity of selected traders.
In general, the desktop version covers all the features of a web-based terminal, and you don’t really need it. You can do all this on the web platform without installing anything.