Dukascopy.com Review Is Dukascopy A Legit Forex Broker

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Dukascopy.com Review Visit site

About Dukascopy.com

Dukascopy is an online forex broker. Dukascopy offers the MetaTrader 4,SWFX mobile, and JForex online currency trading top platforms. Dukascopy.com offers over 40 currency pairs, CFDs, gold, silver, oil, bitcoin and other cryptocurrencies for your personal investment and trading options.

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Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 200:1
Minimum to Open Live: $100
Established: 2004
Address: Route de Pré-Bois 20 ICC, Entrance H 1215 Geneva 15, Switzerland
Contact: +41 22 799 4888
Regional offices:
Regulators: FINMA #
Prohibited countries:

Yes

Yes

Yes

Trading platforms: MT4, jForex
Web Trading:
Mobile Trading:
ECN:
Currencies: (40+)
Cryptocurrencies: (2) Bitcoin, Ethereum
CFD: (605+) Gold, Silver, Stock Indexes, Bonds, Oil, Other Commodities

Yes

Yes

Yes

Yes

EAs/Robots:
News Spike Trading:
Scalping:
PAMM:
Deposit Methods: Bank Wire, VISA, Bank Gurantees, Maestro, Neteller, Other Crypto Currencies, Skrill
Withdrawal Methods: Bank Wire

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Dukascopy.com profile provided by Dukascopy Support, Jan 16, 2020

Dukascopy is an online forex broker based in Geneva, Switzerland. Dukascopy offers the MetaTrader 4, Jforex, Web, iOS and Android online currency trading top platforms. Dukascopy.com offers over 60 currency pairs, CFDs, binaries and precious metals for your personal investment and trading options. Dukascopy Bank is regulated by the Swiss Financial Market Supervisory Authority FINMA both as a bank and a securities dealer.

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Consumer Reviews

Service use: Live

Good afternoon or good night for all.
Now about Banking Group Dukascopy.
A am having real account some years.
Now, my opinion.
Education support and news all are supper!
About platform, instruments for trading more then enough.
Execution of orders, buy, sell, take profit, stop loss and others orders all OK!
Last time I am trading from Mobil, all OK too.
My opinion excellent!

Thanks you for your attention.

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Jan 25, 2020 – No Rating Education and support information is super!
Execution and platform are all OK.
Until l I do not have problems.

Reply by Dukascopy Support submitted Feb 10, 2020 Dear foreigner, thank you for the review! Should you encounter any issue in the future, feel free to contact our support desk support @ dukascopy.com. We will be happy to help!

Service use: Live

Length of use: over 1 Year

Not the slightest negative thing to say about the platform : prices, orders, charts, alerts, reports & help desk,

Sep 2, 2020 – 5 Stars Excellent platform (and no useless information). Excellent trade execution. Good service.

Service use: Live

If want to trade CFD, DukasCopy the good choice.
If seeking for broker much possible reliability,
recommend InteractiveBrokers or DukasCopy.

Has a true ECN,
DukasCopy is also unusually a bank and has low risk of bankruptcy.

Service use: Live

Length of use: over 1 Year

I’ve been with Dukascopy Bank since 2020 and have never looked back.

Their secure and reliable JForex trading platform includes, in my opinion, everything what a typical retail trader needs for successful trading. Market orders and many variations of conditional orders – including BIDs and OFFERs that allow you to act as an internal liquidity provider and get better prices. Comprehensive and configurable charting package that comes with loads of indicators, some very useful order management plugins, and even price action pattern scanner. If you know just a little bit of Java, you can start building everything imaginable, making use of the simple and well-documented JForex API – or ask one of the external programmers for help. New features are added to the platform on a regular basis – just keep tabs on the “What’s new?” feed.

Your automated strategies can be deployed on their servers, closer to the market, and to save you some electricity. For more sophisticated clients, there’s even a FIX API access possibility.

I would go as far as to say that the platform should be able to cover most professionals – unless you want to make markets directly on the interbank platforms.

Their professional and kind staff will help you answer your questions and solve your issues promptly and with respect.

There’s much much more on the offer, explore menu links on their website.

Service use: Live

Length of use: 0-3 Months

Service use: Live

Length of use: over 1 Year

I have been with Dukascopy since December 2020. My trading style is scalping, usually 10 pips TP with 50 pip SL, on average taking around 10-15 trades/week. I have traded only regular currencies, and left positions only from monday-friday. I have started off with 18.000 EUR and funded more along the way.

Things that have or have not happened with Dukascopy:

– Always, without exception, fast and immediate withdrawal, anywhere from 1-20.000 EUR. Sometimes the money was on my bank account (i am from EU) in the same day.
– I have never experienced any slippage whatsoever on my trades
– I have been using their JForex platform and my god, that is one smooth, well structured platform that also allows server based trailing stop (which Metatrader does not)
– You have several brackets of commision automatically, so if you start off with moderate 15k or something and trade moderately, you will be moved automatically to next bracket – paying LESS commision per trade than before
– EU brokers got f*** with that 1:30 leverage directive, but with Dukascopy (Swiss broker) you can have 1:200 – while still being very regulated broker with up to 100.000 chf funds protection
– When i have deposited the funds, they have asked me about my funds origin and continually kept asking anytime i have added more money to my account. By Swiss law, they are required to keep an eye on traders, so that they do not go into debt trading and or put their entire personal wealth on Forex account. Normally, this is really great, it shows great respectance of the law, strictness and trying to protect you from yourself as a lot of people gamble away their accounts.

It is also the only reason why i have left Dukascopy. I have traded successfully for a long time, so i wanted to put more money on it. I was told directly, that taking investors money and putting it on Forex, or taking a bank loan and putting on Forex will not be accepted. If i right now, wanted to take someones 100k to trade and flip for profit, with Dukascopy, i will be prevented to do so.

In conclusion, truly great broker. I have enjoyed their services very much and they have been entirely reliable. If you are not planning to put on Forex anything beyond what you have in your own pocket, this is the best broker.

Dukascopy Review

Dukascopy

Leverage: 1:30

Regulation: FINMA

Min. Deposit: 1,000 US$

HQ: Geneva, Switzerland

Platforms: JForex, MT4

Found in: 2004

Dukascopy Licenses

  • Dukascopy Bank – authorized by the Swiss Financial Market Supervisory Authority FINMA
  • Dukascopy Europe IBS AS authorized byFCMC (Latvia)
  • Dukaspcopy Japan Co., Ltd. (Type 1 Financial Instruments Business) – authorized Kanto Finance Bureau General Manager (Kinsho) No. 2408; authorized by JFSA (Japan) Member No. 1587
  • Dukascopy Dubai authorized by DFSA (Dubai)
  • Our Review
  • Dukascopy User Reviews
  • Dukascopy News
  • Is Dukascopy safe or a scam?
  • Trading Platform
  • Fees
  • Spread and overnight fee
  • Leverage
  • Deposits and Withdrawals conditions with a minimum deposit and withdrawal fee
  • Conclusion

What is Dukascopy?

Dukascopy is a Swiss innovative online bank based in Switzerland and operating since 2004, providing online and mobile trading, banking and other financial services through developed technological solutions. The main technology used by the broker is SWFX – Swiss FX Marketplace, Dukascopy’s ECN proprietary technological solution and registered trademark.

Dukascopy brand name fully owns Dukascopy Europe IBS AS a European licensed brokerage company based in Riga and the SIA Dukascopy Payments licensed payment and e-money company, a Type-1 licensed broker located in Tokyo operated as Dukascopy Japan.

In addition to Geneva Headquarters the bank operates offices in Zürich, Riga, Kiev, Moscow, Kuala Lumpur, Hong Kong and recently opened an office in Dubai.

In addition, apart from the trading services, Dukascopy Bank provides extremely competitive conditions for currency exchange through current accounts that provide e-banking facilities, credit cards and an increasing range of banking products. This means traders are able to receive not only competitive trading solutions but enjoy banking services from the leading Swiss bank too.

As for the support provided Dukascopy Bank furnishes a range of free financial information and other resources through its website, online television, Freeserve products which is crucial for beginning traders and experienced ones as well. Its active online Dukascopy community with over 130’000 members allows to exchange trading experience, market views and strategies, as well any trader may win prizes in various contests.

Awards

Overall, the broker offers comprehensive online solutions in regard to financial investments. Throughout their active position in the industry and engagement into social activities through communities, the broker gained a reputable place in the market. Their achievements have been recognized times and times, for the last years they were honored to receive multiple leading awards:

Is Dukascopy safe or a scam?

Dukascopy Bank is sharply regulated by the Swiss Financial Market Supervisory Authority FINMA as a bank and a securities dealer. As well due to an international presence, the bank holds an authorization from FCMC regulatory in Latvia and FSA Japan, along with authorization in Dubai by DFSA.

Specified by the nature of the Dukascopy business, processes and transactions operates definitely you as a trader can be assured of its transparent trading conditions in full compliance with the strict requirements. Therefore customers and their funds are protected by the various governmental institutions, which is a crucial factor in a positive choice towards the broker.

Trading Platforms

Dukascopy Bank trading platforms provide access to Swiss Forex Marketplace (SWFX), while the platforms designed to deliver a quick and powerful performance under different market situations. The Dukascopy trading platform (JForex) provides an array of tools for risk management and control over the order execution. JForex recommended for manual or automated trading since designed to combine both along with allowance to test trading strategies based on JAVA. In the same powerful manner, the platform has been developed for trade via iOS or Android devices and through JForex Web3 interface.

All platforms contain a range of trading orders, slippage control functionality that allows controlling the maximum price, as well through two trading modes “Net Position” and “Hedging” mode.

Nevertheless, the well-known trading platform MT4, appreciated by many users remains as an option for Dukascope clients. Dukascopy Bank does not provide an MT4 platform to access to Swiss Forex Marketplace (SWFX). However, customers are able to use a third-party solution to connect the SWFX to an MT4 environment (third party provider’s MT4 bridge).

Accounts

In addition to trading on Forex, precious metals and CFD (on various underlying assets), Dukascopy Bank provides a trading platform for binary options on stocks and Forex, including cryptocurrencies.

The SWFX automatically executes orders of market participants on a STP basis, thence all participants interact on an equal basis and consume the same liquidity within the ECN. The market depth monitor can be accessed by every client, provides the market structure for each currency pair. Dukascopy Bank has no dealing desk and makes no requote, all trades with no matter the size are executed automatically.

The account types vary only by the client type. Means, there is an individual account, Joint Account (designed for 2 individuals) and Corporate Account.

Basic spread for popular pair EUR/USD is 0.2 pips is the same for all clients, yet the added commission rates will vary depending on trading volume and balances. As an example see below comparison table, along with a snapshot of the applicable commissions.

Asset/ Pair Dukascopy Spread
EUR/USD 0.2
Crude Oil WTI 5
Gold 30
Bitcoin 60

Dukascopy Rollover

Another trading cost, which is a rollover or overnight fee is diverse by Regular, Advanced and Premium rollover policies that apply different rates that ensure higher trading turnover for client results in better conditions.

Leverage

Leverage levels that allow trading through multiple amounts of your account balance opening vast of opportunities yet may hide some higher risks of losing funds too. Therefore, you should carefully learn how to use it smartly. As for the Dukascopy, along with its obligations towards the regulatory requirements, the standard allowed level set by FINMA is 1:30 for Forex instruments.

Yet, Dukascopy offers a generous possibility for their trader throughout the use of a specifically designed tool Dukascoin, a unique opportunity to utilize extra equity and leverage bonuses embedded directly in the heart of the Dukascoin reward programs.

Payment Methods

Dukascopy Bank allows opens trading accounts in 23 currencies, including in Gold (USD, CHF, EUR, GBP, AUD, CAD, CZK, DKK, HKD, HUF, ILS, JPY, MXN, NOK, NZD, PLN, RON, RUB, CNH, SEK, SGD, TRY, XAU and ZAR).

Along with that you can fund your account by payment cards (Visa, MasterCard, Visa Electron, Maestro), wire transfers (including cheap and fast SEPA transfers in EUR), and via bank guarantees. Moreover, there is a possibility to fund in Dukascoins that allows FX/CFD traders to almost double trading margin comparing to regular funding methods. Besides that, the Dukascoin funding facility creates a unique possibility to simultaneously earn on the fixed high return of Dukascoin deposit programs.

Dukascopy Minimum deposit

Minimum deposit amount at Dukascopy is set to a 1,000$

Withdrawal fee

As Dukascopy serves its business as a leading Swiss bank, you also able to enjoy the benefits of banking while all payments can be done through Dukascopy Bank SA. In any other way, for the incoming transfers Dukascopy covers all applicable fees, yet the withdrawal of funds for outgoing transfer or withdrawal may occur the charges which are depending on the currency. E.g. the USD account will require 50$ fee for SEPA payments or 10$ for payments in Bitcoins to cryptowallets.

Conclusion

The Dukascopy as a Swiss bank brings a reliable and competitive offer to the market while offering truly competitive spreads, along with general pricing and various programs that bring them to one of the best options for trading. Overall platform solution, as well the optimization of the strategy and automated trading capabilities creates powerful technical scope from the company too.

Traders of any level will find their benefit in the company. The broker’s impressive trading community with resources and research materials, as well as numerous contests that are diverse even to the trader’s hobbies. Along with great support not only by their multiple teams around the world but by plenty of research sources, diverse learning and analytical data, all in all, makes Dukascopy a very attractive broker.

Nevertheless, we will be happy to know your personal opinion about Dukascopy, which you always may share in the comment area below.

No review found.

Retail FX broker and bank Dukascopy, based in Geneva, Switzerland, has announced about the opening of its Representative Office in Dubai – Dubai International Financial Centre (DIFC). The Swiss brokerage has added one more location to its global network. The bank already has representative offices in Hong Kong, Kuala Lumpur, Moscow, Kiev and Tokyo. Dukascopy.

Switzerland-based forex bank and broker, Dukascopy, has warned customers that forex trading company GCG Asia is fraudulently claiming to be the bank’s authorized firm. In the announcement, Dukascopy Bank cautions that neither it nor any entities of Dukascopy Group have relations with GCG Asia, although the latter fraudulently claims the opposite: “Please mind that contrary.

Dukascopy.com Review: Is Dukascopy A Legit Forex Broker?

Dukascopy Review: this is the name of one of the most famous Forex brokers located in Switzerland. Is dukascopy.com a scam Forex broker?

Like was stated above, the Forex broker has a good reputation in Switzerland and like all legit brokers, it is licensed. It is registered under FINMA and has branches in many countries including USA, Japan, Latvia, Ukraine and many more. It owns; Dukascopy Bank SA, Dukascopy Europe IBS AS, and Dukascopy Japan K.K.

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The Dukascopy Forex broker provides the popular trading platform and one of its own. It is a recipient of many international trading awards and it is also a Binary Options broker. The address for the company is at:

ICC, Entrance H, Route de Pré-Bois 20, 1215 Geneva 15, Switzerland

It provides a PAMM service which is Percent Allocation Management Module. This is a means of allowing a broker’s client appoint a trader to manage their accounts. But they will have limited trading power of attorney. With this service, traders get to manage many accounts from one trading platform.

Scalping and News Spike trading are allowed for clients using this broker and we also found that it allows EAs and other trading robots.

It is common for Forex brokers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.

However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit brokers at the bottom of this article.

Dukascopy Trading Platform

It is mentioned that Dukascopy trading software is operated on a MetaTrader 4 platform available to all their clients.

Legit brokers are known to offer at least the popular MetaTrader 4 or 5 trading platform.

These platforms are very good signs as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating system. All can be used on desktops, Linus, windows, iOS and Android.

Tools that comes with these trading platforms are also found to be useful for traders. It has proven to be user friendly as well and helps traders in analyzing the market easily.

The broker also offers a platform known as JForex that was developed by the Swiss bank for traders. This platform offers a full scope of advanced instruments as well as help implement and test their automated strategies. It is both efficient and sophisticated.

Trading instruments offered to traders are: 40+ currencies, 2 cryptocurrencies, and CFDS on 605+ commodities. We know that legit brokers offer currency pairs, indices, CFDs on many commodities and cryptocurrencies. It is important to let traders know the options open to them.

Maximum leverages can reach up to 1:100 and while this is generous, it can pose danger as well. High leverages can lead to huge loss of funds as well. Spreads are said to start from as low as 0.2 pips but traders are required to pay a commission of $7 per lot round trip. This brings the spread to about 0.9 pips.

Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.

Deposit and Withdrawal methods on Dukascopy

The means of making payments with this broker are: Bank Wire, VISA, Bank Guarantees, Maestro, and crypto currencies. Withdrawal is allowed only via Bank Wire. We do not find it encouraging that e-wallets are not in use.

This is because standard and legit brokers make deposit and withdrawals available via Visa, MasterCard and Wire Transfer. Many offer e-wallets like: Skrill, Neteller, UnionPay, FasaPay, and so on.

Minimum deposit required is placed at $1,000 which is higher than the obtainable average of $100 – $250 among brokers. Withdrawal charges are not stated.

This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.

Trading bonuses are not offered and we have found that this is a means brokers use in tying down clients. Its absence is an advantage.

Is Dukascopy Licensed?

Yes. Dukascopy is a duly licensed Forex broker registered under FINMA in Switzerland. Regulated Forex brokers in Europe, America, Africa, Australia, and Asia are under many strict rules.

The regulatory bodies like the FCA, FSCA, CySEC, AISC, FINMA, NFA and many others have regulations protecting Forex traders from unfair brokers. This is why they come top as recommended Forex brokers.

Support

To reach the customer care agent of this broker clients are directed to call: +41 22 799 4888

Conclusion

Since Dukascopy is a licensed Forex broker, we recommend it for traders. It is important to remember that the minimum deposit requirement is high and the means of withdrawals are few compared to other legit brokers.

COMPARE WITH A TRUSTED BROKER

Fortrade

Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide.. visit their official website

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