Dukascopy is a Swiss online bank and stock brokerage firm based in Geneva. It founded by Dr. Andre Duka and his partner, Veronika Makarov, in the year 2004.

They provide their clients with a Swiss banking license. Regulated by the Swiss Financial Market Supervisory Authority, abbreviated as FINMA.

They provide a variety of services and features. Both beginners and professionals clients use these services. Those services include CFD trading on Stocks, Indices, Commodities, and Cryptocurrencies.

Forex trading through Swiss FX Marketplace (SWFX) is available. They also provide access to Binary options trading.

A virtual or physical card that is useful for online payments is also provided by the company.

Physical Card also allows ATM withdrawals. The transfer of money from one account to other costs are zero.


About Dukascopy & its Accepted Countries

Dukascopy Forex BrokerThe Dukascopy Bank wholly owns two subsidiaries. First, Dukascopy Europe, regulated by the Financial and Capital Market Commission (FCMC).

Dukascopy, found in 2004 in Lativa. Found under the Financial and Capital Market Commission of Latvia (FCMC). This was to provide people with current accounts and credit card services.

Later in 2015, the company expanded by acquiring Alpari Japan K. K and named it Dukascopy Japan. Financial Services Agency of Japan (JFSA) regulates it.

Over the years, the group’s net worth has grown. They have now employed almost 300 people across the globe. They have offices in Geneva, Zurich, Kyiv, Tokyo, Hong Kong, Kualalumpur, and Riga in Latvia.

Founder / CEO Andre Duka
Established Year2004
Publicly TradedNo
Total Employees100-200
RegulationsFCMC, FINMA, FSA(JP)
HeadquarterSwitzerland

Traders from the following countries can use the brokerage:

  • Australia
  • Thailand
  • United Kingdom
  • South Africa
  • Singapore
  • Hong Kong
  • India
  • France
  • Germany
  • Norway
  • Sweden
  • Italy
  • Denmark
  • United Arab Emirates
  • Saudi Arabia
  • Kuwait
  • Luxembourg
  • Qatar
  • And many others

Traders from the following countries cannot use the brokerage:

  • Afghanistan
  • Iran
  • The United States
  • Belgium
  • Israel
  • Canada

The following titles were awarded to them over the years of their existence:

  • Best Forex Trading Apps, 2019
  • The Best Platform & Mobile Trading, 2018
  • Best Forex Bank, 2018
  • The Best Forex ECN/STP Forex Broker, 2018
  • Best Provider of Liquidity, 2017
  • Best Trading Platform, 2016
  • Binary Options Broker of the Year, 2015

Open a Forex Trading Account Now! – Fill up the Form

    Fill Your Details Here


    Dukascopy Trading Platform

    Duascopy very well understands the importance of technology in trading. This is very evident from the online reviews available.

    Trading PlatformJforex, MT4
    Desktop Platform – WindowsYes
    Desktop Platform – MacYes
    Desktop Browser PlatformYes
    Mobile Site PlatformYes
    Android App PlatformYes
    iOS App PlatformYes
    Windows App PlatformNo
    Other Mobile OS PlatformNo
    Real time UpdatesYes
    Portfolio DetailsYes
    Research ReportsYes
    Global IndicesYes
    Personalized AdvisoryYes
    Interactive ChartsYes
    Live MarketsYes
    Multi-Account ManagementYes
    Trading Platform Supported LanguagesArabic, Azerbaijani, Bulgarian, Chinese, Czech, English, French, Georgian, German, Hungarian, Italian, Japanese, Korean, Polish, Portuguese, Romanian, Russian, Spanish, Turkish, Ukrainian

     

    They provide the clients with tools that they claim will make the traders successful. They provide two software to the traders. JForex and the industry-standard MT4 (MetaTrader 4)

    JForex 3 is their flagship and in-house-made platform. It is available for desktop and web browsers. This is particularly good at high-frequency and automated trading.

    The developed Python API available to download makes algorithmic trading easy. This platform provides online Charts, drawing tools, and many indicators.

    These tools make an analysis of the market trend easier. Cloud storage and VPN services are also given to the traders for round-the-clock trading and testing.

    The desktop version supports both Windows and Mac. This software is the best in class for the year 2020.

    The other is the industry standard, MT4 (MetaTrader 4). This, some traders prefer the propriety in-house built platform. Features like an economic calendar, widgets and advanced charting tools are also available.


    Dukascopy Mobile App

    Dukascopy provides its clients with an option to trade using their Android or iOS phones. They have their own JForex Trading mobile app. This app is available for free of cost from the respective app stores.

    The company boasts of having the best in the industry trading app. Which has climbed to the top of the podium in the year 2020.

    JForex Trading is a very robust app. It has several parameters and alerts that you can customize and add to the same screen.

    The mobile app options are way above the industry standard. They provide almost 46 technical indicators. They provide support for planning and strategies from their community.

    Besides these, there are also research tools. A live news feed and instant chat support available in case a trader faces some technical issue.

    The only drawback is that they charge the mobile users fees for using more than 20 SMS message alerts in a month.


    Check out Mobile Apps of more Forex Brokers


    Dukascopy Commission or Brokerage or Fees

    The trading costs at Dukascopy are quite competitive to the top forex brokers. The ones provide support for automated trading and high-frequency trading.

    Average spreads for popular currency pairs, such as the EUR/USD and USD/JPY, are around 0.3/0.4 pips. At the same time, a default commission rate of 0.7 pips.

    Brings the average total trading cost to approximately one pip. Which is like other providers.

    The broker does charge its spreads and commissions according to trading volume. This charging system benefits active and large size traders through discounts.

    A fee of up to $40 a year applies to accounts that have not participated in trading for more than a year.

    Commission on tradesYes
    Fixed spreadsNo

    Dukascopy Leverage or Exposure

    Leverage allows users to sell large deals while using far smaller capital. This gives a chance of getting greater returns, but it also increases the size of a potential loss and its risks.

    Depending on the type of account, leverage can be either 1:100 or 1:200. 1:200 is the highest ratio of leverage offered by them.

    After the agreement of certain conditions, upon the opening of the account. The company provides leverage of 1:30 on the weekends.

    Maximum Leverage1:200

    Dukascopy Payment Methods

    The payment methods available have bought a mixed feeling among the users.

    Deposit OptionsCredit Card, Neteller, Skrill, Wire Transfer
    Withdrawal OptionsNeteller, Skrill, Wire Transfer

    For deposits, users can only use debit or credit cards or direct transfers from the bank account. Card payments work the fastest and are usually processed within one working day.

    Whereas bank transfers generally take up to two business days. The least deposit amount is $100, and the payments incur a 1.2% to 2.5% fee depending on the situation.

    More options are available for the users when it comes to withdrawals. Apart from physical debit or credit cards and bank accounts. the other options that are available are:

    • Skrill with 2.5% commission
    • Neteller with 1 Euro or 2.5% commission
    • Bitcoin
    • and Dukascoin

    There is no minimum amount of withdrawal, but the cost of withdrawal in some cases can reach up to $50.

    Withdrawal processing time can range from the same day to three days. These low fees are unsurprising as Dukascopy is also a bank.

    The lack of PayPal option has had a slight negative impact on the ratings.


    Find out Payment Methods provided by other Forex Brokers


    Investment in Asset, Classes, or Markets by Dukascopy

    Dukascopy, despite being a bank, provides lesser options in Forex. There are 61 currency pairs for trading.

    In other items, the selection is good. Eleven plus commodities like gold, silver, oil, etc., are available. Equities from 14 countries are also available along with 19 indices. While there are only three cryptocurrencies:

    Bitcoin, Ethereum, and Litecoin are available for trading.

    43 US-listed ETFs are tradable in asset selection.

    Dukascoin: Dukascopy has understood blockchain technology. It has further brought it by launching its in-house cryptocurrency named Dukascoin.

    Currencies TradingYes
    Commodities TradingYes
    Indices TradingYes
    Stocks TradingYes
    Cryptocurrency TradingYes
    ETF’s TradingYes
    Bonds TradingYes
    FUTURES TradingNo
    OPTIONS TradingNo
    Supported Cryptocoinsbitcoin, ethereum
    Total Tradable Assets600
    Number Of Currency Pairs61
    Number Of Cryptocurrencies2
    Number Of Stocks500
    Number Of Indices20
    Number Of Commodities11
    Number Of FuturesNA
    Number Of OptionsNA
    Number Of Bonds3
    Number Of ETFs43

    Dukascopy Virtual Trading or Demo Account

    Dukascopy does offer a Demo Account for Forex and CFD using both the JForex 3 and the MT4 platforms.

    Registration for a demo account is available on the broker’s website. The user will then be able to test the platforms and strategies on the S&P 500 or Nasdaq listings.

    The only drawback is that demo accounts are available for 14 days.

    Virtual MoneyNA
    ChargesFree

    Dukascopy Offers and Deals

    Dukascopy offers several attractive offers. High-volume trading can reduce costs by up to 20%.

    A client can bag about 100% off on trading commissions by referring a potential client. The clients can refer through their ‘Introducing Broker’ deal.

    The total value of bonuses for active traders cannot exceed $50,000 per account.

    Bonuses are respectable: yet, more attractive offers are available with other brokers.

    Free Learning CoursesYes
    Free Demo AccountYes
    Discount on BrokerageYes
    Flexible Brokerage PlansYes
    Referral OffersYes
    Forex Trading ContestNo
    Trading Bonuses & RewardsNo

    Dukascopy Regulations and Licensing

    Dukascopy, regulated by the Swiss Financial Market Supervisory Authority (FINMA).

    It is a Tier-1 authority and is well known to have been strict in a sense. It protects its clients up to CHF 100,000 in the event the broker goes bankrupt.

    PKF International Limited is the group’s internal auditor.

    KPMG International Limited, which is one of the largest accounting firms across the globe, conducts an external audit. Both report their respective results to FINMA.

    In Europe by the Financial and Capital Market Commission (FCMC) regulates the Dukascopy. This committee gives them the license to operate in Europe.

    Despite not registering under the UK’s Financial Conduct Authority, it can offer its service to the English people.

    Negative balance protection is also in place to ensure. Now, the users cannot lose more than their initial deposit.

    In the Japanese operating subsidiary, the Dukascopy Japan KK is been regulated by the Financial Services Agency of Japan (JFSA). JFSA being a Type-1 licensed broker.

    RegulationsFCMC, FINMA, FSA(JP)

    Find out Regulations & Licensing of more Forex Brokers


    Dukascopy Features

    Dukascopy offers a good number of features and tools. Newsfeeds from top news sites are available: the same is with the live economic calendar and forecasts.

    A unique channel called Dukascopy TV channel.

    Which is a Geneva-based TV studio, and its reporters interview trading experts and discuss the market sentiment. This keeps their users up to date with the latest market updates, trends, and news.

    Automated and high-frequency trading is also good option, that comes with ease. Algorithmic trading is available at Dukascopy through their in-house made JForex 3 platform and Python APIs.

    Adding to that, clients can access cloud storage and VPN services to trade on a 24-hour basis at different exchanges across the globe.

    Besides all these options being available with many in the industry, Dukascopy takes it to the next level with their ‘cancel all’ button. This feature is convenient to cancel all orders as soon as possible.

    Educational ServicesNo
    Social Trading / Copy TradingNo
    Trading SignalsNo
    Email AlertsYes
    Guaranteed Stop LossNo
    Guaranteed Limit OrdersNo
    Guaranteed Fills / LiquidityNo
    OCO OrdersYes
    Trailing SP/TPYes
    Automated TradingYes
    API TradingYes
    VPS ServicesNo
    Trading From ChartYes
    Interest On MarginNo
    Offers HedgingYes
    Offers PromotionsYes
    One-Click TradingYes
    Expert AdvisorsYes
    Other Trading FeaturesNo

    Dukascopy Account Opening Procedure

    Dukascopy is being regulated by FINMA & FCMC., Eevery new client must pass a few necessary tests to understand the risks of trading.

    When opening an account, it is good to be handy with these things

    • A scanned color copy of your passport, driving license, or national ID
    • A utility bill or bank statement from the past three months showing your address as an address proof

    There is also a need to answer a few basic questions to confirm how much trading experience the person has. Usually, it takes 10 minutes to complete it.

    While Dukascopy’s platform can be learnt about straight away. It’s important to note that one won’t be able to make any trades until the test results are out and are qualifying.

    This reviewing can take up to several days, depending on the situation.


    Dukascopy Account Types

    Dukascopy’s account offerings are of standard types to all traders, with a few notable differences.

    Account TypeForex ecn account
    Initial Deposit$100
    SpreadFloating
    CommissionNo
    Leverage1:200

    The main difference is opting for an MT4 trading account, or the broker’s in-house built JForex platform by the client. Other significant differences include the selection of the operating subsidiary.

    Dukascopy requires the least deposit of $1,000 and offers the highest leverage of 1:200.

    Still, Dukascopy Europe accepts clients with a deposition as small as $100 and, stays confined by EU rules, offers leverage of 1:30. Forex and CFD accounts, Binary Options account, and Swap-Free Islamic account are available as standard.


    Dukascopy Trading Account Features

    Check below all the trading account features under various account types:

    Trading Desk TypeECN
    Min Deposit$100
    Maximum Leverage1:200
    Mini AccountNo
    Premium AccountNo
    DEMO ACCOUNTYes
    Islamic AccountYes
    Segregated AccountYes
    Managed AccountYes
    Institutional AccountYes
    Suitable for beginnersYes
    Suitable for professionalsYes
    Suitable for scalpingYes
    Suitable for daily tradingYes
    Suitable for Weekly tradingYes
    Suitable for swing tradingYes

    Dukascopy – Research & Advisory

    Find below all the different reports and support provided by its Research & Advisory team:

    Fundamental ReportsNo
    Research ReportsYes
    Company ReportsYes
    Daily Market CommentaryYes
    News (Top-Tier Sources)Yes
    Delkos ResearchNo
    Top PicksNo
    AutochartistNo
    Acuity TradingNo
    Company Stock ReviewYes
    Free Stock TipsNo
    WebinarsYes
    Video EducationNo
    Economic CalendarYes
    Offline AdvisoryNo
    Relationship ManagerYes

    Dukascopy Benefits

    • Different types of trading platforms, including industry-standard MT4 and Dukascopy’s proprietary JForex 3 platform.
    • Over 500 tradable products, including Forex, CFDs, and binary options
    • Dukascopy TV available to educate and up-skill traders
    • Trusted brand licensed in many jurisdictions
    • Community support through the mobile app

    Dukascopy Drawbacks

    • Average bonuses are limited to $50,000 per account.
    • Limited account types and payment options.
    • Lack of dual-factor authentication on the mobile app as well as desktop.
    • Inability to close the chat window.
    • Somewhat overwhelming website.

    Dukascopy Trading Hours

    The majority of the company offerings are available 24 hours a day, opening at 21:00 on a Sunday GMT (22:00 GMT during Winter Time) and closing with the market at 21:00 GMT on Friday (22:00 GMT during Winter Time).

    The broker runs a hassle-less service, so the clients don’t have to adapt to the different situations at different points in the year.


    Dukascopy Customer Care or Contact Details

    Dukascopy offers a wide range of customer language support, languages including Chinese, English, Arabic, French, German, Italian, Japanese, Polish, Portuguese, Russian, and Spanish. The service is available 24/7 via –

    • Live chat – The chat window is at the bottom right corner of the website
    • Email – support@dukascopy.com
    • Telephone – +41 22 799 4888

    The expected time to get through the customer support is usually short, and the support staff is trained to deal with most of the problems.

    The community supports for both of the platforms is also of great help.

    Dedicated DealerYes
    Support During WeekendsNo
    Online TradingYes
    24*7 SupportYes
    Email SupportYes
    Live Chat SupportYes
    Customer Support LanguagesChinese, English, French, German, Polish, Spanish

    Dukascopy Safety and Security

    Dukascopy is well known as a low-risk platform. The company is not a publicly traded company, and it operates as a bank.

    It is also authorized by two tier-1 regulators, which are of high trust. They are the Japanese Financial Services Authority (JFSA) and the Swiss Financial Market Supervisory Authority (FINMA).

    They follow industry-standard security procedures, like website encryption that protects the sensitive data of the clients.

    The MT4 trading platform uses a one-time password for verification. Whereas the security on the JForex platform is limited.

    Bringing in dual-factor authentication to the JForex would be better.


    Dukascopy Rating & Reviews

    Based on different users and their experiences below are the company rating and reviews:

    User Experience7.5 / 10
    Products & Services7.8 / 10
    Brokerage Charges & Fees8.1 / 10
    Research & Advisory7.2 / 10
    Trading Platforms7.1 / 10
    Overall Ratings7.6/ 10
    Star Ratings★★★☆☆
    Total Client Reviews78

    Dukascopy Trading – Conclusion or Verdict

    Dukascopy is an excellent Swiss-based bank. Their research division is one of the most innovative and advanced in technology.

    They offer many trading tools, and unique features like SWFX Sentiment Index, Market News and Research, Calendars, Forex Calculators, COT Report, and Dukascopy TV, provided to the clients make them “successful” as the company claims.

    The Dukascopy TV Channel helps both the beginner and well as the professional trader to learn new strategies and techniques.

    Also, they are well known for the Python API support for algorithmic trading and their impressive JForex platform.

    They are serving clients around the world since 2004, offering them many types of items, totaling more than 600, to trade and invest with leverage of 1:200 and several bonus offers.

    They also provide their proprietary cryptocurrency, know as Dukacoin.

    The JForex platform requires a fair amount of time to learn, their educational but, their educational and community support along with the provided demo Account make the path pretty straight forward.


    Open a Forex Trading Account Now! – Fill up the Form

      Fill Your Details Here


      Learn everything about Forex Trading


       

      Leave a Reply

      Your email address will not be published. Required fields are marked *

      24 + 9 =

      Get 90% Discount on Brokerage Now! Open Demat Account