Trading fees reveal which strategies a broker actively supports and passively discourages. They are the most defining aspect of a broker, as they directly impact profitability. Read my in-depth Dukascopy fees review, which helps traders understand the charges and compare them to other brokers. So, how competitive are Dukascopy fees?
Overview of Dukascopy Fees
During my Dukascopy broker review, I found that Dukascopy offers an identical commission-based account with commission reductions based on account deposits or equity and trading volume over the past 30 days. The trading platform choice also impacts Dukascopy fees, with MT4 and MT5, traders paying $1.00 more per 1.0 standard round Forex lot than traders using the proprietary Dukascopy JForex platform.
Dukascopy fees for Forex traders start from spreads of 0.1 pips with a commission of $7.00 per 1.0 round lot for JForex, which decreases to $1.00. Commissions for commodity, metals, index, and cryptocurrency trading begin at $11.00 and decrease to $1.50 per $100,000 in trading volume.
Equity commissions are 0.10% on most markets but are as low as 0.06% and as high as 0.18%, with minimums dependent on the equity exchange. US-based equities have a $0.02 commission per share with a $10.00 minimum, matching the industry average.
A Snapshot of Dukascopy Fees
Fee | Type of Fee | Applicable at Dukascopy |
Spreads | Trading fee | Yes |
Commission | Trading fee | Yes |
Swap rates on leveraged overnight positions | Trading fee | Yes |
Live Price Feed / Stamp Duty/ Settlement Fee | Trading fee | No |
Internal Deposit Fee | Non-trading fee | Yes |
Internal Withdrawal Fee | Non-trading fee | Yes |
Inactivity Fee | Non-trading fee | Yes |
Account Fee | Non-trading fee | Yes (services dependent) |
Currency Conversion Fee | Trading fee and non-trading fee | Yes |
Dukascopy Fees, Spreads, and Commission Explained
Dukascopy, like all brokers, has frequent trading fees and less frequent non-trading fees. Traders must understand the Dukascopy fees to know what they pay per trade and compare costs to other brokers to determine if Dukascopy offers a competitive pricing environment.
Dukascopy Trading Fees
- Spreads (the difference between the bid and the ask price, where Dukascopy has spreads from 0.1 pips)
- Commissions (charged per transaction, $7.00 to $8.00 per 1.0 standard round Forex lot)
- Swap rates (charged on leveraged overnight positions)
- Currency conversion fees (0.05% to 1.00%)
Dukascopy Non-Trading Fees
- Deposit fees (internal fees that apply to Dukascopy deposits)
- Withdrawal fees (internal fees that apply to Dukascopy withdrawals)
- Inactivity fees (minimum CHF 500 but not more than the account balance)
- Currency conversion fees (0.05% to 1.00%)
Dukascopy Trading Fees
Dukascopy trading fees are the most frequent Dukascopy fees traders will pay. They depend on the asset and apply to each transaction. The Dukascopy account types offer one commission-based option with discounts in a 10-tier system. Currency conversion fees apply if the asset quote currency differs from the account base currency.
An Overview of Minimum Dukascopy Trading Fees in the Jforex Platform
Asset | Average Markup over Raw Spreads | Minimum Commission | Total Dukascopy Fees |
Forex (EUR/USD) | 0.1 pips | $1.00 | $2.00 per 1.0 standard lot |
Indices (S&P500) | 0.5050 points | $1.50 | $2.0050 per contract |
Commodities (Gold) | 0.3791 points | $1.50 | $1.8791 per contract |
Overnight Fees (Swap rates)
Swap rates are the most ignored trading costs, which may become the most significant fee per trade, depending on the strategy. Swap rates apply on leveraged overnight positions, which triple on Wednesday to account for trades being kept open over the weekend. These are not charged on Dukascopy Islamic accounts.
MT4/MT5 traders can easily access swap rates from their platform by following these steps:
1. Right-click the desired symbol in the Market Watch window and select Specification.
2. Scroll down until you see Swap Long and Swap Short.
Dukascopy Non-Trading Fees
Non-trading fees are notably less frequent and apply to deposits, withdrawals, and inactivity. Traders must know about them to avoid confusion and fees.
Currency Conversion Fees
Currency conversion fees apply each time Dukascopy exchanges one currency for another, including trading. For example, traders buy a Euro-denominated asset in a US Dollar base account. Currency conversion fees are hidden fees that most traders are unaware of. Dukascopy charges between 0.05% and 1.00%.
Dukascopy Deposit Fee
Dukascopy notes a 0.50% deposit fee, except on bank wires. Currency conversion fees may apply, which traders can avoid with a multi-currency account from their bank or online payment processors.
Dukascopy Withdrawal Fee
Requesting a Dukascopy minimum withdrawal can incur a Dukascopy withdrawal fee of 3.0%. Traders should consider potential third-party processing costs, currency conversion fees, and follow-on transaction costs.
Dukascopy Inactivity Fee
Dukascopy references a minimum CHF 500 inactivity fee, but this charge will never exceed the account balance.
Dukascopy Safety and Security
Dukascopy has 20+ years of experience, a clean regulatory track record with numerous regulators, regulated capital of approximately CHF 40,000,000, deposit protection up to CHF 100,000, external audits by KPMG, segregated client deposits, and negative balance protection.
Dukascopy Fees Bottom Line
Dukascopy fees are competitive, especially for high-volume traders who can decrease costs to industry-leading levels. Dukascopy discriminates against MT4/MT5 traders, as they pay $1.00 more per lot than JForex traders. Unlike most brokers, Dukascopy levies internal deposit and withdrawal fees but maintains a competitive overall cost structure. Traders can use a Dukascopy demo account to test Dukascopy before going live and paying real transaction fees. Dukascopy neither credits nor debits an interest rate on its non-banking accounts. The Dukascopy minimum deposit requirement is $100 or a currency equivalent. Trading commissions apply to all assets. They depend on the account equity, deposits, and 30-day trading volumes. Dukascopy transparently lists commissions in its 10-tier system on its website. Dukascopy fees consist of spreads, commissions, swap rates, and currency conversion fees, if applicable. Dukascopy charges an internal withdrawal fee of 3.00% plus applicable third-party payment processor fees. Spreads apply immediately once a trader opens a position, and commissions apply when traders buy and sell trading instruments, but swap rates on leveraged overnight positions are only charged after the cut-off time. Dukascopy charges currency conversion fees if the quote currency of the asset differs from the account base currency. Dukascopy has a minimum CHF 500 inactivity fee but the fee cannot exceed the account balance. Dukascopy is a good broker offering traders competitive Dukascopy fees, excellent trading infrastructure, deep liquidity, and a trustworthy, secure trading environment.FAQs
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