In conducting my Dukascopy broker review, I found traders had access to one account type as standard but there were differences in trading fees based on the total deposit amount and discounts for monthly trading volumes exceeding certain levels. A Dukascopy demo account, a swap-free Dukascopy Islamic account, and Dukascopy managed account were also available alongside the standard setup.
Dukascopy Account Types
Dukascopy Account Types Features | Dukascopy Standard |
Minimum Deposit | $100 |
Minimum Forex Spreads | 0.1 pips |
Commissions | $1.00 - $7.00 per 1.0 standard round lot |
Maximum Leverage | 1:200 |
Minimum Trade Size | 0.01 lots |
Account Base Currencies | USD, CHF, EUR, GBP, AUD, CAD, CZK, DKK, HKD, HUF, ILS, JPY, MXN, NOK, NZD, PLN, RON, CNH, SEK, SGD, TRY, XAU, and ZAR |
How to Open a Dukascopy Account - Step by Step
During my broker review, I explored the various Dukascopy account types. Traders can open their account via a user-friendly online application.
Below is a step-by-step guide on how to open Dukascopy accounts:
1. Click “Open Live Account” on the Dukascopy homepage.
2. Fill out your name, e-mail address, and phone number, and select your preferred language. Click “Continue.”
3. Choose your planned deposit amount and account type. Click “Next Step.” Follow the on-screen instructions, which include collecting your employment data, tax details, and other relevant data Dukascopy wishes to collect to satisfy its regulators AML requirements.
4. Dukascopy complies with global AML/KYC standards, making account verification mandatory. Most traders will satisfy this requirement by uploading a copy of a government-issued ID and one recent proof of residency document.
5. Dukascopy also insists on a video call to perform an identity check to ensure they are dealing with a real person to prevent fraudulent applications. This step is not optional.
Restricted countries:
- Dukascopy does not provide a complete list of accepted countries, but the footer of its homepage lists Belgium, Israel, Russia, Turkey, Canada, and the UK as some of the restricted jurisdictions from which potential clients cannot apply.
Dukascopy Account Features
The broker offers consistent features across all account types, but Dukascopy trading fees vary. These fees are crucial in determining your overall trading expenses and can significantly affect your profitability. The Dukascopy minimum deposit is $100 or currency equivalent. The trading platform choice also impacts on trading fees, with MT4/MT5 more expensive than the proprietary JForex trading platform.
All Dukascopy account types offer traders the following:
- MT4, MT5, JForex, and a dedicated binary options platform
- Algorithmic and copy trading
- Maximum Forex leverage of 1:200
- Negative balance protection
- Unrestricted, customizable Dukascopy demo accounts
- Actionable trading recommendations
- Cryptocurrency services
- Integrated banking services
- API trading
- A choice of Dukascopy withdrawal methods, including cryptocurrencies
The primary difference in the Dukascopy account types is Dukascopy fees.
Here is how the Dukascopy fees differ:
Net Deposit or Equity | 30-day trading volume | JForex Forex commissions | MT4/MT5 Forex commissions |
< $5,000 | < $5M | $7.00 per round lot | $8.00 per round lot |
≥ $5,000 | ≥ $5M | $6.60 per round lot | $7.60 per round lot |
≥ $10,000 | ≥ $10M | $6.00 per round lot | $7.00 per round lot |
≥ $25,000 | ≥ $25M | $5.00 per round lot | $6.00 per round lot |
≥ $50,000 | ≥ $50M | $3.60 per round lot | $4.60 per round lot |
≥ $250,000 | ≥ $250M | $3.20 per round lot | $4.20 per round lot |
≥ $500,000 | ≥ $500M | $3.00 per round lot | $4.00 per round lot |
≥ $1,000,000 | ≥ $1B | $2.80 per round lot | $3.80 per round lot |
≥ $2,000,000 | ≥ $2B | $2.00 per round lot | $3.00 per round lot |
≥ $3,000,000 | ≥ $3B | $1.00 per round lot | $2.00 per round lot |
Dukascopy Account Pros and Cons
I recommend traders consider the pros and cons of the Dukascopy account types before progressing to opening a live account.
The Pros of the Dukascopy Account Types
- In-house developed Swiss FX Marketplace (SWFX)
- Four trading platform choices
- Algorithmic and API trading
- Dukascopy Islamic accounts
- Dukascopy copy trading functionality
- 1:200 maximum leverage with negative balance protection
- Balanced asset selection covering the most traded instruments
- Competitive commission-based Dukascopy account types
- Volume-based rebates
- A choice of payment processors and deposit currencies, including gold
- Managed accounts via power of attorney
The Cons of the Dukascopy Account Types
- Registration requires a video call to confirm identity
- The trading platform choice impacts trading fees, with MT4/MT5 more expensive versus JForex
Dukascopy Account Types Bottom Line
Traders get competitive trading conditions in the commission-based Dukascopy account types with excellent order execution from an STP/NDD/ECN broker offering deep liquidity via 20+ liquidity providers and its in-house developed Swiss FX Marketplace (SWFX). The only drawback is higher Dukascopy fees for MT4/MT5 traders versus JForex traders, but these fees are still considered reasonable. Dukascopy established itself among the most trusted banks and brokers, compliant with three regulators, with a good track record spanning 20+ years, and excellent client protections. The permitted ‘lot size’ is the primary difference between micro and standard accounts in Forex, followed by the minimum deposit requirement. A 1.0 standard Forex lot equals 100,000 currency units versus 0.01 lots or 1,000 currency units in a micro account. Dukascopy is an STP/NDD/ECN broker offering its in-house developed Swiss FX Marketplace (SWFX). The Dukascopy minimum deposit requirement is $100 or a currency equivalent. Anyone above 18 years old who does not reside in a restricted country, as identified by Dukascopy, can open an account at Dukascopy. Yes. Dukascopy does have a micro account and allows micro lot sizes from 0.01 lots or 1,000 currency units in its standard account.FAQs
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