Dukascopy- Some Important Details about This Broker

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

General Information & Regulation

Feature	Information
Registered Country/Region	Switzerland
Regulation	unregulated
Market Instrument	Forex, indexes, metals, stocks, ETFs, binaries, bonds, cryptocurrencies
Demo Account	yes
Maximum Leverage	1:200
Spread (EUR/USD)	0.3 pips
Commission	0.7 pips
Trading Platform	JForex4, MT4, Web Binary Trader
Minimum Deposit	N/A
Deposit & Withdrawal Method	wire transfers, payment cards, skrill, Neteller, and cryptocurrencies

Dukascopy is an online broker and bank registered in Switzerland. Users can trade forex, CFDs and binary options on the JForex4 platform or MT4.

Here is the home page of this brokers official site:

The Geneva-based brokerage was founded in 2004 by Dr Andre Duka and his partner, Veronica Makarova. It serves retail clients with a license from the Swiss Financial Market Supervisory Authority (FINMA, suspicious clone).

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, suspicious clone).

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.

Note: The screenshot date is February 3, 2023. WikiFX gives dynamic scores, which will update in real-time based on the broker's dynamics. So the scores taken at the current time do not represent past and future scores.

Market Instruments

Duskacopy advertises that it offers access to a wide range of trading instruments in financial markets, including Forex, indexes, metals, stocks, ETFs, binaries, bonds, and cryptocurrencies.

Account Types

Dukascopy offers a forex and CFD trading account plus a binary options trading account. There is a swap-free account for Islamic traders. Managed accounts are also available, with a Percent Allocation Management Module (PAMM), customer reviews of which are positive. Dukascopy offers demo accounts for forex and binary options trading using the JForex4 and MT4 platforms.

Leverage

Standard leverage of 100:1 (30:1 on the weekend) is applied to retail accounts by default. However, the use of leverage and margin requirements are agreed upon during account opening, with a maximum leverage of 200:1 available. A margin calculator can be found on the brokers website.

It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Spreads & Commissions

Dukascopy scores fairly well when it comes to live spreads and trading fees. Average spreads for popular currency pairs, such as the EUR/USD and USD/JPY are around 0.3/0.4 pips.

A default commission rate of 0.7 pips brings the average total trading cost to approximately one pip, which is similar to other providers.

Trading Platform

Available trading platforms at Dukascopy are JForex4, the industry-popular MetaTrader4, plus the Web Binary Trader system for binary options trading.

JForex4 - The JForex4 platform is excellent for technical trading and automated strategies. Its available as a desktop download or can be accessed via a web browser. It is particularly good for automated trading. Cloud storage and VPN services allow strategies to run around the clock.

A comprehensive historical tick data feed, dating back to 2003 and developed on a Python API is also available. And not only is the quality of data high but it can be exported for further analysis.

Overall, take the JForex platform vs the proprietary and white label systems offered by the likes of Interactive Brokers (IB), FXCM, NinjaTrader, Saxo Bank and CMC Markets, and Dukascopys software more than holds its own.

MetaTrader4 - A third-party bridge allows Dukascopy traders to use the industry-standard MT4 system. So traders more comfortable viewing forex data, gold charts and live price quotes on MT4, can do so. An economic calendar, widgets and advanced charting tools are also available on MT4.

Web Binary Trader- For binary options, Dukascopys Web Binary Trader promises straightforward market access. One-click trading is available and users benefit from predetermined payouts and risks. It is a clean, intuitive platform that makes trading binary options a user-friendly experience.

Deposit & Withdrawal

For deposits, users can deposit via wire transfers, payment cards, skrill, Neteller, and cryptocurrencies.

Bonuses

Dukascopy claims to offer a 100% welcome bonus. In any case, you should be very cautious if you receive a bonus. First of all, bonuses aren't client funds, they're company funds, and fulfilling the heavy requirements that are usually attached to them can prove a very daunting and difficult task. Remember that brokers who are regulated and legitimate do not offer bonuses to their clients.

Customer Support

Dukascopy customer service operates 24/7 in 13 different languages. So whether youre from Europe, Indonesia, India, Ukraine or the UAE, support is available via telephone: +41 22 799 4888 (Clients support), + 41 22 799 4848 (Live trading), + 41 22 799 4838 (Trading clients support), Fax: + 41 22 799 4880, live chat, request a callback or send messages online to get in touch. You can also follow this broker on social networks such as Twitter, Facebook, YouTube and Weibo. Company address: ICC, Entrance H, Route de Pré-Bois 20, 1215 Geneva 15, Switzerland.

Pros & Cons

Pros	Cons
• Multiple trading products and funding options	• No regulation
• Demo accounts available	• Regional restrictions
• MT4 supported

Frequently Asked Questions (FAQs)

Q 1:	Is Dukascopy regulated？
A 1:	No. Financial Services Agency (FCA) and Swiss Financial Market Supervisory Authority (FINMA) licenses are all suspicious clones.

Q 2:	At Dukascopy, are there any regional restrictions for traders？
A 2:	Yes. All trading-related information on the Dukascopy website is not intended to solicit residents of Belgium, Israel, the Russian Federation, Canada (including Québec) and the UK.

Q 3:	Does Dukascopy offer demo accounts？
A 3:	Yes.

Q 4:	Does Dukascopy offer the industry-standard MT4 & MT5？
A 4:	Yes. Dukascopy supports JForex4, MT4, and Web Binary Trader.

Q 5:	Is Dukascopya good broker for beginners？
A 5:	No. Dukascopy is not a good choice for beginners. Though it advertises very well, it seems to be a suspicious clone. Take care!