A Comprehensive Trading Hub
Dukascopy Bank SA, headquartered in Geneva, Switzerland, offers a diverse range of over 1200 trading instruments across eight asset classes, including forex, commodities, stocks, cryptocurrencies, and more. Regulated by FINMA and JFSA, it boasts deposit protection, competitive spreads starting from 0.1 pips, and leverage up to 1:200, setting it apart from competitors.
Expert Reviewer Verdict
For traders seeking a reputable brokerage, Dukascopy Bank SA presents a great choice. With deposit protection up to CHF 100,000 and stringent fraud prevention measures, clients can trade with peace of mind. With industry-leading spreads from 0.1 pips and leverage up to 1:200, Dukascopy offers competitive trading conditions. Its advanced proprietary platform and extensive range of over 1200 trading instruments across multiple asset classes cater to both novice and seasoned traders. However, limited educational resources might pose a challenge for those seeking comprehensive learning materials. Overall, Dukascopy Bank SA stands out for its robust security measures, diverse product offering, and competitive trading terms, making it a top consideration for discerning traders.
Pros and Cons
Pros
- Deposit Protection up to CHF 100,000
- Competitive Spreads From 0.1 pips
- Leverage up to 1:200
- Advanced Proprietary Platform
- Diverse Range Of Over 1200 Trading Instruments
Cons
- Limited Educational Resources
Trust and Safety
Safe Trading Haven
Dukascopy Bank SA is dedicated to fostering trust and security among its users through a combination of robust regulatory compliance, proactive fraud prevention measures, and meticulous fund security protocols.
Regulation
Regulated by authorities such as Swiss Financial Market Supervisory Authority (FINMA) and the Japan Financial Services Agency (JFSA), Dukascopy operates under strict regulatory frameworks, ensuring adherence to industry standards and safeguarding the interests of its clients. This regulatory oversight underscores the bank’s commitment to transparency, integrity, and ethical business practices.
Fraud Prevention
Dukascopy employs stringent Know Your Customer (KYC) procedures to verify the identity of its clients, with each account meticulously vetted by the compliance department. Additionally, the bank’s monitoring systems continuously track account activity, promptly flagging and investigating any suspicious transactions. These proactive measures help mitigate the risk of fraud and ensure the security of client accounts.
Client’s Fund Security
Dukascopy prioritizes the security of client funds by offering deposit protection of up to CHF 100,000 per client and institution, as regulated by law. Moreover, the bank’s careful management of assets, with over 90% held in cash and Swiss Confederation bonds, minimizes risk exposure and provides added reassurance to clients regarding the safety of their funds.
|
Regulatory Body |
Status |
|
ASIC |
No |
|
CySEC |
No |
|
DFSA |
No |
|
EFSA |
No |
|
FCA |
No |
|
FINMA |
Yes |
|
FMA |
No |
|
FSA (SC) |
No |
|
FSCA |
No |
|
FSC |
No |
|
JFSA |
Yes |
|
MAS |
No |
|
MiFID |
No |
Tradable Instruments
Diverse Trading Options
Dukascopy Bank SA offers a diverse range of over 1200 trading instruments across 8 underlying asset classes, catering to the varied needs and preferences of traders. These instruments include forex, commodities, indices, stocks, cryptocurrencies, ETFs, bonds, and metals.
The available tradable instruments encompass a wide spectrum of financial markets, providing ample opportunities for traders to diversify their portfolios and capitalize on market movements. With 59 currency pairs covering major, minor, and exotic currencies, traders have access to a comprehensive forex market. Additionally, 2 precious metals (gold and silver), 13 commodities (including metals, energy, and agriculture), and over 1,100 shares from various regions are available for trading as CFDs.
Furthermore, Dukascopy Bank SA offers 20 indices, 51 ETFs, 18 cryptocurrencies, and 3 bonds as CFD instruments, allowing traders to participate in global markets with ease. This extensive selection of tradable instruments, combined with competitive pricing and advanced trading technology, positions Dukascopy as a preferred broker for traders seeking diversified investment opportunities.
|
Trading Instrument |
Available |
|
COMMODITIES |
Yes |
|
CURRENCIES |
Yes |
|
CRYPTOCURRENCIES |
Yes |
|
ETF |
Yes |
|
FUTURES |
Yes |
|
INDICES |
Yes |
|
STOCKS |
Yes |
|
BONDS |
Yes |
|
OPTIONS |
No |
Account Types
Tailored Trading Accounts
Dukascopy Bank SA offers three main types: JForex, MT4, and MT5. The JForex account caters to both beginners and professionals, featuring competitive spreads starting from 0.1 pips, a minimum deposit requirement of $100, and leverage of up to 1:200. This account provides access to a broad spectrum of trading products, including forex, commodities, cryptocurrencies, metals, indices, bonds, stocks, and ETFs.
The MT4 and MT5 accounts offer spreads starting from 0.1 pips, a minimum deposit of $100, and leverage of up to 1:100. The MT5 platform, written in the MQL 5 language, expands the choice of currencies to 22, while MT4 offers 5 currencies.
All account types support features such as news trading, scalping, and hedging, providing traders with flexibility in their strategies. Furthermore, Dukascopy Bank SA ensures the security of client funds through deposit protection up to CHF 100,000 and careful management of its own assets.
|
Account Type |
Available |
|
DEMO ACCOUNT |
Yes |
|
ISLAMIC ACCOUNT |
Yes |
|
SEGREGATED ACCOUNT |
No |
|
MANAGED ACCOUNT |
Yes |
|
SUITABLE FOR BEGINNERS |
Yes |
|
SUITABLE FOR PROFESSIONALS |
Yes |
|
US TRADER |
No |
Commission and Fees
Varied Fee Structure
Dukascopy implements a varied fee structure based on trading activity and account type.
Account Minimum
Minimum deposits for Dukascopy Bank SA and Dukascopy Europe are $100, and for Dukascopy Japan K.K., it’s ¥10,000.
Trading Fees
Trading commissions for self-trading clients are determined by factors like net deposit, equity, or traded volume, expressed in USD per 1 million USD traded for each opening or closing trade.
CFD Fees
Volume commissions apply for CFD margin trading, charged per opening or closing trade in USD per 1 million USD traded.
Forex Fees
Similar volume-based commissions are applicable to forex trades for each opening or closing trade.
Futures Fees
Margin trading on CFDs with futures underlying, like US Crude oil, is offered without specific fees, though the volume commission for CFDs is 1.5 times higher than the FX fee.
Account Fee
No fees for account opening, closing, maintenance, or account updates are charged by Dukascopy.
Inactivity Fee
After the initial 180-day grace period, maintenance fees apply if no trading activity occurs for 180 consecutive days after account opening.
Deposit Fee
Various deposit methods incur different fees, such as payment card deposits ranging from 1.5% to 2.5%, while bank wire deposits are fee-free. Neteller and Skrill deposits carry fees of EUR 1 or 2.5%, and Apple Pay deposits face a 2.5% fee.
Withdrawal Fee
Withdrawal fees depend on the method, with bank wire withdrawals costing USD 19 (SHA) or USD 35 (OUR), and payment card withdrawals incurring EUR 1.5 plus 2.5%. Neteller and Skrill withdrawals cost EUR 1 or 2.5%, while Bitcoin, Ether, or Tether withdrawals carry a flat fee of USD 30.
Disclaimer: The information provided is indicative and subject to change. Users are strongly encouraged to verify the details on the broker’s official website, as accuracy may vary over time.
Overnight Funding Fee
Overnight funding fees, based on trading volume, are applied in Premium, Advanced, and Regular modes.
Currency Conversion Fee
Profits/losses and commissions settled in currencies other than the account’s base currency incur a 0.5% currency conversion fee.
Guaranteed Stop Order Fee
No fee is charged for guaranteed stop orders by Dukascopy.
Trading Platforms
Cutting-Edge Trading Tools
Dukascopy offers a selection of advanced trading platforms catering to diverse trader preferences. The proprietary JForex platform is renowned for its comprehensive features, including over 250 technical indicators and chart studies. MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are also available, a popular choice among traders worldwide.
Mobile Trading Apps
Both Android and iOS users can access the JForex platform, ensuring seamless trading on the go. Additionally, MetaTrader 4 and MetaTrader 5 are available on both mobile platforms, providing flexibility and convenience to traders.
Web Trading Apps
Traders can utilize the JForex Web 3 platform, offering the full functionality of the desktop version directly from a web browser, ensuring accessibility from any device with an internet connection.
Desktop Trading Apps
Dukascopy provides desktop platforms including JForex 4 and JForex 3, renowned for their advanced features and intuitive interfaces. Traders can also opt for MetaTrader 4 and MetaTrader5, ideal for those familiar with the platform or requiring specific custom-developed EAs or indicators.
|
Trading Platform |
Available |
|
MT4 |
Yes |
|
MT5 |
Yes |
|
CTRADER |
No |
|
PROPRIETARY |
Yes |
|
Desktop and Web Platform |
Available |
|
DESKTOP WINDOWS |
Yes |
|
DESKTOP MAC |
Yes |
|
WEB PLATFORM |
Yes |
|
Mobile Platform |
Available |
|
ANDROID |
Yes |
|
iOS |
Yes |
Unique Features
Distinctive Trading Advantages
Dukascopy stands out with distinctive features that elevate trading dynamics. Chart replay mode offers a nuanced review of market shifts, while order execution slippage control ensures precision in every trade. Dukascopy excels in managing orders during market breaks and simplifies execution with the “Market On Open” order type. Traders enjoy the flexibility of position reverse and double options for versatile maneuvers. In addition, Dukascopy’s Hotlists curate top market movers, delivering swift decision-making and heightened market awareness.
Research and Education
Informed Trading Support
Dukascopy offers various research tools, including trading ideas, fundamental analyses, news sections, trade pattern ideas, Dukascopy TV streaming, signal widgets, and quotes widgets, providing valuable insights into market trends, economic developments, and potential trading opportunities. While its educational resources might not match the extensive offerings of some other major brokers, there is an ongoing commitment to improvement. Currently, Dukascopy features one associate streamer hosting a program on the Dukascopy Academy YouTube Channel, ensuring consistent streams and educational content on both the Academy Channel and Dukascopy TV. This dedication to continuous enhancement underscores Dukascopy’s commitment to providing traders with valuable knowledge for making informed decisions in the financial markets.
Customer Support
Responsive Assistance
Dukascopy offers comprehensive customer support services to assist traders with their inquiries and concerns. Clients can reach out to the broker through various channels, including phone calls, message forms, live chat, and call-back requests available on the website. With customer service available 24/7, traders can access assistance whenever they need it, ensuring prompt resolution of issues and queries. Dukascopy’s dedicated support team is equipped to handle a wide range of topics, from account-related questions to technical support for trading platforms. Whether traders prefer direct communication via phone or the convenience of online chat, Dukascopy strives to provide responsive and reliable customer support to meet the needs of its clients.
Account Opening
Simple and Efficient Process
The account opening process with Dukascopy is fast and secure, allowing traders to quickly access the platform and start trading with confidence.
Registration: The account opening process with Dukascopy begins with a straightforward online registration form, where traders provide basic personal information.
Verification: After registration, traders undergo video identification procedures to verify their identity, ensuring compliance with regulatory requirements.
Document Upload: Traders might need to upload certain documents during the account opening process, such as identification documents and proof of address, to complete the verification process.
Once the account is registered and verified, traders receive their login details promptly, along with a link to access the trading platforms. This streamlined approach ensures traders can begin trading swiftly and without hassle.
Deposit and Withdrawals
Convenient and Flexible Transactions
Dukascopy ensures hassle-free deposit and withdrawal transactions, providing traders with flexibility and convenience when managing their funds.
Deposits: Dukascopy offers various deposit methods, including bank wire transfers, payment cards, Neteller, Skrill, and cryptocurrencies like Bitcoin, Ether, and Tether. While bank wire transfers and cryptocurrency deposits are fee-free, other methods might incur charges ranging from 1.5% to 2.5%.
Withdrawals: Traders can withdraw funds using methods such as bank wire transfers, payment cards, Neteller, Skrill, and cryptocurrencies. Withdrawal fees vary depending on the chosen method, with bank wire transfers incurring a fee of USD 19 (SHA) or USD 35 (OUR), and payment card withdrawals charged EUR 1.5 plus 2.5%. Cryptocurrency withdrawals have a flat fee of USD 30.
Dukascopy allows traders to access their funds promptly and securely. With a range of options available, traders can choose the method that best suits their needs for seamless transactions.
Disclaimer: The information provided is indicative and subject to change. Users are strongly encouraged to verify the details on the broker’s official website, as accuracy may vary over time.
Final Thoughts
Dukascopy emerges as a competitive option for traders seeking a comprehensive platform with diverse trading opportunities. With its range of account types, including demo, Islamic, and managed accounts, Dukascopy caters to traders of all levels. The broker offers a transparent fee structure, with trading commissions based on factors like net deposit and traded volume.
Additionally, Dukascopy provides access to various trading platforms, including MT4, MT5, and its proprietary jForex 4 platform. Its research resources equip traders with the tools and knowledge needed to make informed decisions. Its customer support is available 24/7 and the broker offers a user-friendly account opening process and convenient deposit and withdrawal options. Overall, Dukascopy stands out as a reliable brokerage option with a strong emphasis on transparency, technology, and client satisfaction.
Contact Info
ICC, Entrance H, Route de Pré-Bois 20, 1215 Geneva 15, Switzerland
FAQs
-
Question: What Are The Available Trading Platforms At Dukascopy?
Answer: Dukascopy offers the MT4, MT5, and jForex4 platforms for desktop and web trading, along with mobile trading apps for both Android and iOS devices. -
Question: What Are The Account Types Offered By Dukascopy?
Answer: Dukascopy provides various account types, including Demo Account, Islamic Account, Managed Account, and accounts suitable for beginners and professionals. -
Question: Are There Fees Associated With Deposits and Withdrawals?
Answer: Yes, Dukascopy imposes fees for deposits and withdrawals depending on the method used. Payment card deposits might incur fees ranging from 1.5% to 2.5%, while withdrawals via bank wire or payment cards are subject to specific charges. -
Question: What Is The Minimum Deposit Required To Open An Account With Dukascopy?
Answer: The minimum deposit required for accounts with Dukascopy Bank SA and Dukascopy Europe is $100, while for Dukascopy Japan K.K., it is ¥10,000.
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