Trade Broker Review

Dukascopy is one of the largest and most popular ECN brokers in the world. Widely regulated in several countries, it offers services for private clients and institutional investors. Known for its transparency and fairness, Dukascopy guarantees excellent trading conditions and first-class support. If you are looking for a highly reliable broker with direct access to the market, Dukascopy is undoubtedly the right choice.

LEVERAGE – retail 1:30
LEVERAGE – global / pro 1:200
SPREAD – standart account From 0.7 pips
DEPOSIT/FUNDING OPTIONS Bank transfer, Credit/Debet card, Electronic wallet
WITHDRAW OPTIONS Bank transfer, Credit/Debit card

Born in 1998 from a project of a group of physicists and then officially founded in 2004 in Geneva, Switzerland, Dukascopy is today one of the largest brokers in the world and one of the oldest ECN brokers ever. It has offices in Zurich, Riga, Kiev, Moscow and Hong Kong, currently employs over 250 employees and through its brokerage company Dukascopy Europe IBS AS, offers forex, CFD and binary options trading services to a target audience of professional investors, banks, institutional and private clients.

It operates in the banking and financial markets and offers online trading services on the following assets:

  • Currencies
  • Metals
  • Indices
  • Commodities
  • Bonds
  • Equities
  • ETFS
  • Cryptocurrencies

The minimum deposit to open an account with Dukascopy is $100 and deposits can be made by credit card or wire transfer, while withdrawals are possible only by wire transfer. There are three types of accounts available: the standard account, the managed account (for traders who wish to delegate their budget to a trader) and the demo account, where you can get acquainted with the broker and its features by starting to trade with fake money. Depending on the deposit ($100, $5,000, $100,000 or $250,000), various additional services are available such as additional bank guarantees, third party bank custody services and FIX API. The minimum permissible trading lot size is 1000 units of the first currency, 1 unit (ounce) for gold and 50 units (ounces) for silver, with no restrictions on opening lots.

As an ECN broker, Dukascopy charges commissions on trading. An ECN broker is basically an operator that offers direct access to the market with the same prices for all, where the depth of the market is shown including client “place bid” and “place offer” orders, where there are variable spreads and instant execution of orders without broker intervention (no dealing desk).

The commissions charged are different depending on the services used and are calculated in USD per million USD traded. The commission structure is very transparent.

The spreads are variable, with minimum ranges starting from 0, 0.1 or 0.2 depending on the asset traded, which is among the lowest spreads ever. The base leverage is 1:100, but can be extended up to 1:300 at the request of the trader (the extension is not automatic but some requirements are necessary).

One of the most important aspects for which Dukascopy has become known is its reliability, focusing on one word in particular: transparency. Being regulated by FINMA and also being a Swiss bank implies a set of rules and high quality standards to protect the client.

Like all banks and securities trading companies in Switzerland, client deposits are directly protected by the Swiss government to the amount of CHF 100’000 per client, prices and liquidity conditions are the same for all clients and all trading modes are allowed.

Dukascopy is also a member of the Swiss Foreign Exchange Market and a member of ARIF (Association Romande Des Intermediaires Financiers), an association for the prevention and combating of money laundering.

Dukascopy is a reputable broker that is best suited for experienced traders with medium to high capital to invest. If you are a novice trader or relatively new to the world of trading, Dukascopy is not the right choice for you, but a market maker like is. For those who already have some experience in the industry and have large budgets, for banks and professional traders who handle high volumes of trading, Dukascopy offers excellent services and trading opportunities. Definitely a great broker to trust, safe, professional and highly reliable.

Dukascopy provides the trader with very low spreads thanks to the worldwide banking network listed below:

  • Bank Of America
  • Barclays
  • BNP Paribas
  • Cantor Fitzgerald
  • Citibank
  • Commerzbank
  • Currenex
  • Deutsche Bank
  • EBS
  • Goldman Sachs
  • HotstpotFXI
  • HSBC Bank
  • JP Morgan
  • Lava-FX All Morgan Stanley
  • Nomura
  • SEB
  • Societe Generale
  • UBS

As a result of the above banking network, Dukascopy is able to process transactions as fast as a few milliseconds.

Furthermore, Dukascopy allows the Trader to scalp, i.e. trade the financial markets by opening and closing positions in minutes, trying to maximize gains in a very short time.

At Dukascopy you can trade in two markets, Forex and binary options.

For the former, 4 choices are available, and 2 for the latter. In the case of Forex, we can choose between:

  • JForex. Suitable for more automated trading, it provides tools for technical analysis and position management directly from charts.
  • Java. It is the most suitable platform for traders who want to trade in a more manual way, organised to show at a glance everything they need to operate without having to change windows.
  • Web Platform. This is the web-based platform, through which we can trade without having to download anything but directly from the web browser of any computer connected to the Internet. It offers all the flexibility of a web-based platform and the power of the broker’s trading tools.
  • SWFX. This is the platform for mobile devices such as tablets and smartphones, through which we can trade directly from the device (it is available for iOS and Android operating systems).
  • For those who want to use the standard Meta Trader 4, there is a third party bridge option to connect Dukascopy’s Swiss Forex Marketplace (SWFX) to the MT4 system.
  • For binary options trading, we can choose between the following platforms.
  • Web Trader Binary. The Web Based platform to trade with maximum flexibility anywhere and directly from your browser without having to download anything to your PC. It provides great customization and immediacy of use, with all the charts and tools you need to make your trading experience complete and professional.
  • Binary Trader Mobile. It is the mobile platform for smartphones and tablets that provides the same functionality as Binary Trader Web but with the ability to operate in total mobility (available for iOS and Android operating systems).