These areas are where Dukascopy shines:
- Wide Range of Trading Instruments: Dukascopy offers access to 1,200+ trading instruments, including forex, commodities, cryptos, metals, indexes, bonds, stocks, and ETFs, allowing traders to diversify their portfolios.
- Competitive Spreads and Trading Fees: Dukascopy provides relatively low spreads, with popular currency pairs like EUR/USD and USD/JPY having average spreads of around 0.3/0.4 pips. The default commission rate of 0.7 pips keeps the total trading costs competitive.
- Multiple Trading Platforms: Dukascopy offers a selection of trading platforms, including JForex4, MetaTrader4/5 (MT4/5), and the Web Binary Trader system. These platforms cater to different trading preferences and provide advanced charting tools and features.
Dukascopy Information
The Switzerland-based brokerage was founded in 2004 by Dr Andre Duka and his partner, Veronica Duka. It serves retail clients with a license from the Swiss Financial Market Supervisory Authority (FINMA).
Its subsidiary, Dukascopy Europe, caters to the European market under the oversight of the Financial and Capital Market Commission (FCMC).
In 2006, the company launched its banking arm, offering current accounts and credit card services. In 2015, Dukascopy extended its e-banking reach, acquiring Alpari Japan K. K., a bank regulated by the Financial Services Agency of Japan (FSA).
Dukascopy Europe IBS AS is an investment brokerage company which is 100% owned by Swiss Forex bank Dukascopy Bank SA. In accordance with White Label Agreement with Dukascopy Bank SA, Dukascopy Europe provides its clients with access to the Swiss Foreign Exchange Marketplace on the same conditions which are available to the clients of Dukascopy Bank.
Is Dukascopy Legit?
When it comes to regulation, Dukascopy Bank operates under the Financial Services Agency, with license number 関東財務局長（金商）第2408号.
Additionally, Dukascopy Bank is also locally regulated by the Swiss Financial Market Supervisory Authority, registered with a Financial Service.
Market Instruments
Dukascopy offers trading in 1,200+ trading instruments, including forex, commodities, cryptos, metals, indexes, bonds, stocks, and ETFs.
Trading Accounts
Dukascopy offers a variety of account types to cater to different trading preferences. Traders can choose from forex, CFD, and binary options trading accounts, allowing them to engage in a wide range of financial instruments. The availability of a swap-free account option is beneficial for Islamic traders who adhere to Sharia principles.
Managed accounts with the Percent Allocation Management Module (PAMM) are also available, with positive customer reviews indicating satisfaction with the management services.
Furthermore, Dukascopy provides demo accounts for both forex and binary options trading, enabling traders to practice their strategies and familiarize themselves with the JForex4 and MT4/5 platforms.
Leverage
Dukascopy offers a maximum leverage of 200:1 (30:1 on weekends) for retail accounts, allowing traders to adjust their leverage levels based on their risk tolerance and trading strategies. The availability of a margin calculator on the broker's website aids traders in effectively managing their positions.
It is important to note that while higher leverage can enhance potential profits, it also increases the risk of significant losses. Traders must exercise caution and use leverage judiciously, as excessive leverage can lead to impulsive decision-making and overtrading. It is crucial for traders to fully understand the risks associated with leverage and make informed decisions to protect their capital.
Spreads and Commissions
Dukascopy offers competitive live spreads for popular currency pairs, such as the EUR/USD and USD/JPY, which average around 0.3/0.4 pips. This ensures that traders can access tight spreads, enhancing their trading opportunities.
Additionally, Dukascopy employs a transparent commission structure, with a default commission rate of 0.7 pips. This brings the average total trading cost to approximately one pip, which is in line with other industry providers. The clear breakdown of spreads and commissions allows traders to make informed decisions and accurately assess the costs associated with their trades.
Trading Platforms
Dukascopy offers a range of trading platforms to suit different trading styles and preferences.
The JForex4 platform is particularly advantageous for technical trading and automated strategies, with features such as cloud storage and VPN services enabling continuous automated trading. The availability of comprehensive historical tick data feed and Python API allows for detailed data analysis.
The MetaTrader4/5 platform, through a third-party bridge, provides access to the widely used MT4/5 system and offers advanced charting tools and economic calendar features.
Additionally, the Web Binary Trader platform offers a user-friendly interface for binary options trading, with one-click trading and predetermined payouts.
Deposit and Withdrawal: Methods and Fees
Dukascopy offers a variety of deposit and withdrawal methods to cater to the diverse needs of its users. The availability of options such as wire transfers, payment cards, Skrill, Neteller, and cryptocurrencies provides flexibility and convenience for traders. Accepting cryptocurrencies also adds an extra layer of security to transactions.
However, it is important to note that some deposit methods may have certain limitations, such as availability or additional fees.
Additionally, specific processing times for withdrawals are not explicitly stated, which could potentially lead to uncertainty for users. Overall, Dukascopy strives to ensure secure and reliable deposit and withdrawal processes while offering a range of options to accommodate different preferences and requirements.
Frequently Asked Questions (FAQs)
What financial instruments can I trade with Dukascopy?
Dukascopy offers 1,200+ financial instruments, including forex, commodities, cryptos, metals, indexes, bonds, stocks, and ETFs.
How can I deposit funds into my Dukascopy trading account?
Dukascopy provides multiple deposit options, including wire transfers, payment cards, Skrill, Neteller, and cryptocurrencies.
What trading platforms are available at Dukascopy?
Dukascopy offers JForex4, MetaTrader4/5 (MT4/5), and the Web Binary Trader system for binary options trading.
Is there a demo account available at Dukascopy?
Yes, Dukascopy provides demo accounts for both forex and binary options trading using the JForex4 and MT4/5 platforms.
ALIQAYS
Iraq
I deposited an amount and it was not approved. I waited more than a week. The support does not provide any accurate information regarding the deposit. I send proof of the deposit and the request is not approved after the amount was withdrawn to the account. Now I am trying I contacted support and got no answer
Exposure
2023-11-13
La86151
Hong Kong
He accused me of scamming him, and asked the fake platform to block my account. Later, the platform disappeared, unable to withdraw funds, and took my photos and videos, forcing me to repay. He even claimed to have a woman.
Exposure
2022-09-15
FX5721867832
Hong Kong
The customer service rejected withdrawal for many reasons and asked for taxes. I lost about 70000.
Exposure
2021-10-08
Aderwar
Turkey
Dukascopy Bank is a great choice for traders who want access to a wide range of tradable assets. They offer a diverse portfolio, making it easy to diversify your investments. Plus, their minimum deposit is very reasonable, making it accessible to traders of all levels.
Positive
2024-07-16
Sok Chan
Cambodia
Been with these guys for years - hands down the best forex broker I've ever used. Never had any issues, no matter your trading style - scalping, news, spikes, you name it. Here's the kicker: you make money, it goes straight to your real, Swiss bank account. None of that shady stuff. Even if something goes wrong, your own account manager jumps in to help. Seriously, five-star service all around!⭐⭐⭐⭐⭐
Positive
2024-05-08
Anas FX
Cyprus
When it came to the spread and commission 'bishops', Dukascopy played a strong game. Trading the classic EUR/USD pair, I observed the spreads consistently lining up within a comfortable range of 0.7-1.0 pips during high-liquidity hours. A memorable move in my trading game was when Dukascopy's accurate trading signals spotted a winning opportunity with a bearish shift in the AUD/JPY pair. Their swift order execution allowed me to lock a short position, turning the tide in my favor!
Positive
2023-12-01
Brewster108
Singapore
customer service here might not exactly match the "24/7 support" offered by some other banks, but the quality and speed of their responses more than make up for it. In a field where problems can crop up for any number of reasons, having the certainty that a competent support network is on standby is a great reassurance.
Positive
2023-11-30
源3119
Belarus
I lost connection when logging into my Dukkascopy account frequently, but the support staff did not give me any solutions all the time. I guess they only care about themselves.
Neutral
2023-02-22
FX1200429457
Colombia
I think this Dukascopy is nothing more than a scammer under the banner of the so-called forex broker... I see that some people have already been scammed.
Positive
2023-02-13
A汇丰名慕陶瓷--钟洋15520993535
Hong Kong
The website of this company looks quite serious, but I saw his real side on wikifx-a complete foreign exchange liar! If you want to withdraw money, you have to pay a high amount of funds to withdraw it... What is the difference between this and stealing money? ?
Neutral
2022-12-14
FX1059301772
Australia
I made two orders, but the stop losses were only activated when the losses were 2 times and 6 times from the original stop losses. Making my losses from 1% to 10% of my capital each trade. I contacted the customer support team and they informed that there was high volatility which caused price slippage.
Neutral
2022-11-25
Kyle Loh
Malaysia
It required many fees($50000, $38881 and $40000) before withdrawal.
Exposure
2021-09-23
Kyle Loh
Malaysia
The platform customer service said that my bank card information was incorrectly filled, and I needed to pay a deposit of up to RMB 50,000 in order to have the opportunity to modify the wrong information and reapply for withdrawal.In order to get the money back in the account as soon as possible, I had to do it. Unexpectedly, after paying this sky-high margin, the withdrawal was still rejected by the platform, and even the account was maliciously frozen.
Exposure
2021-09-19
_Dan_
Hong Kong
I’ve been cheated of hundreds of thousands and called the police. But there is still now news.
Exposure
2021-05-18
多动症少女
Hong Kong
First, I said that I entered the wrong card number, the second step is to increase my credit score, the third step is to pay personal income tax for large withdrawals, and the fourth step is to transfer foreign banks to pay deposits.
Exposure
2021-05-04
FX1457371977
Hong Kong
I paid all kinds of fees, but I still couldn’t withdraw, and the customer service directly blocked me. It’s a fraud gang that committed the crime.
Exposure
2021-05-02
124
Hong Kong
Do not be cheated
Exposure
2021-03-12
♀浔忍
Hong Kong
It's a scam. Don't allow my withdrawals with various reasons. In the end, my application was approved. But they won't help me consult the process unless I opened the exclusive channel. It take 36 hours since my application was approved. But the withdrawal hasn't been to my bank account.
Exposure
2021-03-06
勿忘心安58302
Hong Kong
Don’t allow me to withdraw funds with various reasons. And they set traps for me. If I have any question, the customer service just told me to “operate according to the instruction”
Exposure
2021-02-24
FX2570086934
United States
I opened a trading account with Dukascopy following an advert I saw on the internet on 2nd December 2020. The account promised easy trading for investors with investors able to withdraw their funds online easily whenever required.I funded the account with 25000.All transactions were paid for with my Visa debit card. The account manager from Dukascopy (his name Adrian Rask) continuously applied pressure on me over many weeks to continue to fund the account with the promise of better returns. I did this in good faith believing that I was dealing with a decent trading firm On 30th Jan 2021, after being bombarded with calls from the account manager to fund the account, I made a withdrawal request and decided to cease trading with this platform.They gave series of flimsy excuses as to why my withdrawal cannot be processed. After several failed attmept i resorted to filing a charge back with Assetspoor(assetspoor . tech) Big ups, i got my lost funds and they are very professional and efficient. The activities of Dukascopy must be stopped at all costs, they put people in bad situations.
Exposure
2021-02-20