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 also accused me of defrauding him, and asked the fake platform to block my account. After that, the platform disappeared and I couldn't withdraw money. They also took my pornographic photos and clips, forced me to repay the money, and even claimed that there was a female
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
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
FX2680093756
Hong Kong
It’s said that I can withdraw funds within 24 hours. However, I can’t. The customer service said that I broke their rules and made the money of two million in their company frozen so I had to pay 30$ unfreezing fee. It’s so ridiculous. How can I affect their company account? Scam
Exposure
2021-02-19
李自成
Hong Kong
I could not log in to Dukascopy Bank for more than 20 hours. On New Year’s Eve on February 11, 2021, around 19:30, I could not log in either on mobile app or desktop. The customer service manager said it was because of the holiday. The floating loss was getting bigger and bigger. The customer service got off work early because of the holiday and left a phone number before leaving. But the call was in English. Finally, there was a customer service in Chinese, but the problem was not solved until the afternoon of next day when they closed positions manually after they went to work. I could not log in until about six in the afternoon. The long-distance call charges cost more than one hundred.
Exposure
2021-02-14
FX3562032054
Hong Kong
Sometimes ask for Certification fee, sometimes ask for individual income tax. Now ask for withdrawal fee. I expose here to make u stay away from fraud broker.
Exposure
2021-02-12
小娥～
Hong Kong
For various reasons not to withdraw money, sometimes ask for deposits, sometimes ask for taxes. It is to find various reasons and write this to prevent you from being cheated. This is a fraud platform.
Exposure
2021-02-02
舂╃暖花開
Hong Kong
I have been unable to withdraw funds, and paid various fees for various reasons. Ask the customer service if you can withdraw funds after paying. The customer service replied yes. But in fact, you can't withdraw fnds
Exposure
2021-01-25
FX4120372252
Hong Kong
We reached an agreement that 50% was deposited to withdraw funds but 4% was needed the nest day. It's a scam
Exposure
2021-01-11
FX2852359512
Hong Kong
Dukascopy didn’t give commission of November. And there is no email or news. I asked them by emails and they asked me to offer character checks and working certificate. I’ve heard these words many times. I’ve offered at least three times. I sent to them but they asked for the character checks on that day. I was speechless. I know they’ve closed many agent accounts. Now, it’s my turn. I hope you guys should think twice before investing here. 111 sent me an email about the people committing crimes with the same name as mine. It’s ridiculous. All these people have been arrested. It has nothing to do with me. Or they wanna infringe the people who committee crimes or the people who committee crimes used my info to open accounts? But when I opened an account, there are video authentication, passport and ID number authentications. Don’t they compare by themselves? Dukascopy is not ECN. They have binomial futures, 100% dealing desk. The server here is so bad. If I asked them one question, they’ll reply to me in two days. I’m sick of all theses things. Trading account has been limited all the time. All money goes to customer manager. Please polish your eyes. This is a Russian company without contract spirit.
Exposure
2020-12-17
FX4129872994
Hong Kong
The staff in this company scams you by adding your WeChat and inducing you to deposit
Exposure
2020-10-30