Dukascopy Review : Latest Updates and Rating
Reviewed broker: Dukascopy
Established in 1998
Regulation: FINMA (Switzerland), FCMC (Latvia), JFSA (Japan), MiFID (Europe)
Representative offices of Dukascopy are located in Geneva, Hong Kong, Shanghai, Kiev, Moscow, Kuala Lumpur and Tokyo
USA traders: not allowed
ECN trading environment: yes
Trading instruments: forex and CFD
FOR ACTIVE TRADERS, HEDGE FUNDS, BANKS AND PROFESSIONALS
At Dukascopy Bank SA, you can trade spot Forex, Metals, Binary Options, CFDs on bonds, commodities, indexes, stocks, ETFs and cryptocurrencies through the same platforms.
Dukascopy Bank has a shareholder capital of CHF 22'000'000 and provides trading services based on the following main principles:
EQUAL TRADING RIGHTS
All clients have equal possibilities to provide and consume liquidity within the trading environment (marketplace business model).
TRANSPARENT PRICING ENVIRONMENT
All clients have access to the same liquidity at equal prices through a single data feed.
Whilst developing its unique trading environment and providing professional CFD / Forex trading services Dukascopy Bank has chosen the following priorities:
- Attractive spreads (spread for EUR/USD and USD/JPY from 0.1 pips)
- Security of the funds
- ECN liquidity (FX, Metals, CFDs on bonds, commodities, indexes, stocks, ETFs, cryptocurrencies, Binary Options)
- Wide range of trading orders (including stop-loss and limit)
- Instant execution
- No price and execution manipulations
- Equal prices and liquidity for all clients
- Automated trading based on jForex API and FIX API
- Visual strategy constructor: visual jForex
- Deposits accepted in 23 currencies
- Account funding by using credit or debit cards
- Self-trader and current accounts in non-deliverable gold
- 24/6 phone trading support
- Access to sophisticated analytics and news
Dukascopy Review : Trading Platform Features, Account Types and Payments
Trading platforms: Jforex 3, Metatrader 4, SWFX trader (mobile)
Web-based: yes, similar to the desktop version but less attractive features mainly because the platform is still Flash-based, which is not supported by main browsers such as Chrome, making this online version of the platform is rather useless in the long run.
Minimum deposit requirement: $5,000
Note: Dukascopy Bank SA only opens accounts with less than 5,000 USD for Swiss residents. For non-Swiss residents such an option is available with Dukascopy Europe, an EU subsidiary of Dukascopy Bank SA. ECN accounts with the minimum deposit of 100 USD are available only for the clients of Dukascopy Europe.
Maximum leverage: 1:100
Margin requirement: 1%
Mini account: yes
Demo account: yes (limited to 14 days)
Segregated accounts for client funds: no
Islamic swap free accounts: available
Managed accounts: yes
Payment methods: wire transfer, debit cards (Maestro, Visa Electron), credit cards (MasterCard, Visa), and bank guarantees but Dukascopy broker doesn't work with checks or bank notes
Commissions on trades: yes, starting at $5 per million traded
Spread types: variable
Minimum trade size: 0.01 lot
Spreads: starting from 0.3 on EUR/USD major currency pair. The spreads are similar to other brokers compared such as Saxo Bank, FXCM, and FxPro
Trading signals: yes
Stop loss/ limit orders: yes
Automated trading: available
Social trading: yes
VPS services: no
Dukascopy Review : Educational Material and Promotions
Educational section of Dukascopy offers wide range of steaming fundamental and technical analysis, economic calendar, expert forecasts. There is also Dukascopy TV - an in-house tv channel with feedback from the investors, interviews and latest market updates.
Dukascopy Review : Customer Service
Online chat: available both on website and throughout the trading platform 24 hours a day during trading days
Email support: yes
Phone representatives: yes. Friendly representatives, but below the standards of similar brokers compared and rated
Other means of contact: skype
How was the rating of Dukascopy performed compared to other brokers?
This 2020 Forex Broker Review has been conducted though thorough research and assessment of rating and ranking among almost 300 international forex brokers. The final grade is given based on Dukascopy FX broker performance and features.
Overall our online Dukascopy review was conducted with the details obtained from the demo trading and the forex brokers website. If you would like to add details to this online broker Dukascopy or you find inaccurate details Dukascopy broker review please get in touch with us and the changes will be applied.