Dukascopy Review

Review

Dukascopy Bank, a Swiss online bank and brokerage, was founded in 2004 in Geneva, Switzerland, after having been in development for six years. It maintains complete oversight of three operating subsidiaries and is one of the most innovative brokers in operation today. Technology fulfills a primary role at Dukascopy; in 2019, it became the first Swiss bank to offer its own cryptocurrency, Dukascoin.

Dukascopy Review landing page

Back to Top

Regulation and Security

The Swiss Financial Market Supervisory Authority (FINMA), a Tier 1 authority, provides the regulatory framework for Dukascopy Bank. Client deposits are insured up to CHF100,000 by esisuisse, per standard requirement for Swiss banks as well as securities firms. PKF is the internal auditor of the group, while KPMG, one of the Big Four accounting firms globally, conducts the external audit. Both report their result directly to FINMA. Dukascopy is additionally a member of the Swiss Bankers Association and the International Swaps and Derivatives Association (ISDA).

Dukascopy Europe IBS AS, the Latvia based and EU licensed investment brokerage company, is regulated by the Financial and Capital Market Commission of Latvia (FCMC). SIA Dukascopy Payments, also based in Latvia, is a European licensed payment and e-money company, handling financial transactions on behalf of its parent company. The Japanese operating subsidiary, Dukascopy Japan KK, is regulated by the Financial Services Agency of Japan (JFSA) as a Type-1 licensed broker.

Dukascopy is a well-regulated broker and offers superior client protection.

Dukascopy Review regulatory framework

Back to Top

Fees

Trading costs consist of spreads and commissions, which vary depending on net deposit, equity, and trading volume. The EUR/USD carries a minimum mark up of 0.1 pips. MT4 trading accounts include a $1 commission per standard lot. CFD commissions commence from $35 per $1,000,000 in trading value for currencies and commodities; the CFD commission decreases as the equity increases. Equity CFD commissions vary based on the market but are generally 0.10% of the trade value, except for US shares which are priced at $0.02 per share. Islamic accounts carry an extra charge of $5 and $7.5 per $1 million in trading value for currencies and precious metals, respectively. Swap rates on overnight leveraged positions apply. Corporate actions impact equity, index, and ETF CFDs, and are passed through to client portfolios.

Dukascopy carries a complex but competitive and transparent pricing environment.

Dukascopy Review fee structure and pricing

Back to Top

What Can I Trade

Dukascopy maintains an excellent selection of assets which consist of currency pairs, commodities, equity and index CFDs, cryptocurrencies, bonds, ETFs, and binary options. The 61 currency pairs provide pure Forex traders with acceptable exposure, while eleven commodities add diversification opportunities. Equities from 14 countries are offered, complemented by 19 index CFDs. While only three bonds and three cryptocurrencies are available for trading, 43 US-listed ETFs round up the asset selection.

Asset selection at Dukascopy is suitable for new retail traders as well as small fund management firms.

Dukascopy Review asset selection

Back to Top

Account Types

Dukascopy offers a near identical account type to all traders with a few notable differences. The primary difference is the selection of the trading platform, where clients may opt for an MT4 trading account or the broker’s proprietary JForex platform. Another significant difference is the selection of the operating subsidiary. Dukascopy requires a minimum deposit of $1,000, but Dukascopy Europe IBS AS accepts clients from as little as $100. The last notable difference is in respect to maximum leverage which is 1:200 at Dukascopy while Dukascopy Europe IBS AS is confined by EU rules to merely 1:30. Gold accounts, multi-currency accounts, and swap-free Islamic accounts are equally available.

The Swiss-based division grants excellent trading conditions.

Dukascopy Review account type trading conditions

Back to Top

Trading Platforms

Traders may choose between the retail favorite MT4 trading platform, provided as the most basic version only, or the proprietary JForex trading platform. Both fully support automated trading solutions and provide clients with access to Dukascopy’s SWFX-Swiss FX Marketplace. MT4 only allows Forex and commodity trading, while multi-asset traders will manage accounts at the technologically advanced JForex alternative platform.

The SWFX-Swiss FX Marketplace ensures traders have access to superior pricing and liquidity.

Dukascopy Review trading platforms

Back to Top

Unique Features

Dukascopy features a multitude of unique features to enhance the core trading environment besides the essential SWFX-Swiss FX Marketplace. Among the most notable features are LP PAMM Wealth Management, an income generation program based on the bank’s cryptocurrency. Dukascoin, Visual JForex, and Dukascopy TV.

LP PAMM Wealth Management relates to Dukascopy managed accounts.

Dukascopy Review unique features

The launch of Dukascoin resulted in the addition of new income-generating programs.

Dukascopy Review Dukascoin income generating program

Visual JForex allows for the simple development of automated trading strategies.

Dukascopy Review Visual JForex

Dukascopy TV adds additional value to day-to-day trading operations.

Dukascopy Review Dukascopy TV

Back to Top

Research and Education

Traders are provided with extensive research, consisting of written content and charts, in a well-presented format. The Trading Ideas main page is where all the research material can be accessed. Dukascopy TV is another source of valuable information, while numerous trading tools enable manual traders to find their next trade. The JStore maintains automated trading strategies and add-ons. Dukascopy video tutorials cover three topics related to the bank’s services, while webinars provide the general educational content.

Trading Ideas feature technical and fundamental analyses.

Dukascopy Review Trading Ideas

Technical Analysis grants manual traders a quick overview of buy and sell signals.

Dukascopy Review Technical Indicators

The JStore caters to automated traders and trading platform improvements.

Dukascopy Review JStore

Video tutorials introduce three Dukascopy services to clients.

Dukascopy Review Video Tutorials

Webinars deliver broad-based educational content.

Dukascopy Review Webinars

Back to Top

Customer Support

Customer support is available 24/7 and is accessible via phone or callback request, e-mail, and live chat. An FAQ section is also available.

Dukascopy Review Customer Support

Back to Top

Bonuses and Promotions

Dukascopy offers traders an equity bonus, a volume discount program, an experience sharing incentive, and an anniversary bonus. Terms and conditions apply.

Dukascopy offers a range of bonus programs.

Dukascopy Review Bonus programs

Back to Top

Opening an Account

A four-step online application processes new account openings. Account verification is mandatory to comply with regulator mandated AML/KYC requirements. Dukascopy 911 Connect is an app developed for identification purposes.

The Account Opening Procedure is standard for the industry.

Dukascopy Review account opening procedure

Back to Top

Deposits and Withdrawals

Dukascopy supports bank wires, debit and credit cards, Skrill, Neteller, Bitcoin, Ethereum, and bank guarantees. Processing times vary, and third-party fees may apply.

Dukascopy Review deposits and withdrawals

Back to Top

General Information

Company Information

  • Broker's Name : Dukascopy
  • Headquarter : Switzerland
  • Regulation : FINMA, FCMC, JFSA

Account Information

  • Type of Broker : ECN/STP
  • U.S. Clients Allowed :
  • Minimum Deposit : $100
  • Maximum Leverage : 1:200
  • Commissions / Spreads : Both
  • Account 1 : MT4
  • Account 2 : JForex
  • Account 3 : Gold
  • Account 4 : Multi-Currency
  • Demo Account :
  • Islamic Account :
  • Segregated Account :
  • Managed Accounts :
  • Deposit Options :
  • Withdrawal Options :

Instruments Traded

  • ETFs :
  • CFDs :
  • Commodities :
  • Metals :
  • Stocks :
  • Oil :
  • Gold :
  • Binary Options :
  • Indices :

Trading Platforms

  • Type of Platform : MetaTrader 4, Proprietary platform, Web-based
    • Platform Languages :
      • English
    • OS Compatibility :
      • Windows
      • Mobile
      • Web
      • iPad
  • Trading Signals :
  • Charting Package :
  • Market Analysis :
  • Chart Trading :
  • Automated Trading :
  • Scalping :
  • Hedging :
  • Mobile Alerts :
  • E-mail Alerts :
  • Trailing Stops :
  • Guaranteed Stop Loss :
  • Guaranteed Limit Orders :
  • Guaranteed Execution :
  • One-click Execution :
  • OCO Orders :
  • Interest on Margin :
  • Web-based Trading :
  • Mobile Trading :

Customer Support

    • Website Languages :
      • English
      • Spanish
      • Arabic
      • Italian
      • French
      • German
      • Japanese
      • Chinese
      • Russian
      • Portuguese
      • Polish
      • Other
  • Support Hours : 24/7
  • E-mail Support :
  • SMS Support :
  • Chat :

Pros and Cons

  • Numerous platforms and features
  • Both demo and Islamic accounts
  • Good customer support
  • Inability to close chat
  • Somewhat overwhelming website

Back to Top

FAQ

Is Dukascopy regulated?

Swiss FINMA, Latvian FCMC, and Japanese JFSA provide the global regulatory framework.

How do I withdraw money from Dukascopy?

Dukascopy supports bank wires, credit debits cards, Skrill, Neteller, Bitcoin, Ethereum, and bank guarantees.

Is Dukascopy a market maker?

No, Dukascopy is an ECN broker, operating its in-house developed SWFX-Swiss FX Marketplace.

What is Dukascopy 911?

It handles account authorization and other back-office management tasks.

What is the minimum deposit at Dukascopy?

The Swiss-based division requires $1,000, while the EU-based subsidiary requires just $100.

Back to Top

Summary

Dukascopy is a Swiss-based bank and one of the most innovative and technologically advanced brokers, serving clients around the world since 2004. A competitively priced cost structure and asset selection make this ECN broker a primary choice. Traders may operate portfolios in the MT4 trading platform or the proprietary multi-asset JForex trading platform. SWFX-Swiss FX Marketplace ensures deep liquidity, further enhancing the core trading environment for both manual traders and automated trading solutions. Numerous trading tools and unique features add tremendous value, and the research division is excellent by any standard. Dukascopy became the first Swiss bank to launch its own cryptocurrency, Dukascoin, confirming its commitment to technology and innovation. The continuous addition of new services and a range of bonus programs complement the most comprehensive overall offers available in today’s market. It is an ideal choice for new traders to asset management firms.

Back to Top

User Reviews

Did you have a good experience with this broker? A bad one? Tell our team and traders worldwide about your experience in our User Reviews tab. Your email address will not be posted.

Please make sure your comments are appropriate and that they do not promote services or products, political parties, campaign material or ballot propositions. Comments that contain abusive, vulgar, offensive, threatening or harassing language, or personal attacks of any kind will be deleted. Comments including inappropriate, irrelevant or promotional links will also be removed.



3 User Reviews
yasser

The minimum account requirement now is $1,000 only

Brad

It's funny. But my strategy is running much better on java than on mt4. For this reason I recommend dukas.

Robert

I’ve been trading at them for half year. And since then I had no big problems, all other was fastly resolved by Dukascopy support. Yes, the technology they use is quite difficult, but after few days you can enjoy the data that is available. The other thing I enjoyed very much - they have many IB which started a war who will give highest rebates. I started with forextradingchoice.com and now my profit rate is much higher.

Comments
Add Comment
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Back to Top