Is Dukascopy a Scam

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Dukascopy Review


The largest Forex broker offers the entire complex of financial services for a trader, securing the traditional Swiss quality.


Broker Dukascopy
Website URL
Founded 1998
Headquarters Route de Pré-Bois 20, ICC, Entrance H, 1215 Geneva 15, Switzerland
Support Number +41-22-799-48-38, +41-22-799-48-48
Support Types Chat, telephone (including a call back from the site), e-mail
Languages English, Russian, Spanish, Polish, Portuguese, Chinese, Slovene, German, etc.
Trading Platform MetaTrader 4, SWFX
Minimum 1st Deposit $100
Minimum Trade Amount 0,1$
Bonus 2 types of bonuses
Leverage 1:300
Spread from 0.5 points
Free Demo Account Open Demo
Regulation FINMA
Account Types Demo, Live, ECN accounts
Deposit Methods Bank transfers, credit and debit cards MasterCard, Visa, Visa Electron, Maestro, Dukascopy Payments, Dukascopy Connect
Withdrawal Methods Bank transfers, credit and debit cards MasterCard, Visa, Visa Electron, Maestro, Dukascopy Payments, Dukascopy Connect
Number of Assets 100+
Types of Assets Currency, metals, CFDs on stocks, commodities, indices, options, cryptocurrencies
US Traders Allowed
Mobile Trading
Tablet Trading
Overall Score 3/10

Full Review

And yet, is Dukascopy a scam or a decent company you can trust? We will answer this question in the detailed review of the broker.

Terms of trade with Dukascopy

The broker belongs to Dukascopy Group, the largest international group of companies, which includes Dukascopy Bank SA (Swiss innovative online Bank, working for traders around the world), Dukascopy Europe IBS AS (focused on working with private traders from the EU; is part of Dukascopy Bank SA). The secret of Dukascopy’s success lies in providing banking and financial services through the introduction of innovative solutions that make trading functional and efficient.

Choosing this broker for trading, each client receives a Forex trading account in a Swiss Bank, which is one of the most reliable and secure nowadays, as well as a unique access to advanced features of Swiss Foreign Exchange Marketplace, the largest pool of Forex ECN liquidity that use major banks, financial institutions and investors. This platform is the result of IT solutions of the company and its close cooperation with banks and financial institutions, offers to the trader institutional liquidity, instant execution of transactions. Users work directly with the market, offering it their orders, placing individual bid and offer orders, allowing them to buy and sell currencies at improved quotes. This allows users to save on spreads, conduct profitable trading for both sides.

The broker also offers other solutions that have made it an industry leader. For example, trading applications: JForex SWFX (ability to create strategies and indicators); Java SWFX (contains a large number of monitoring tools for technical analysis); web-platform SWFX (functional program with quick access, market signals, etc.); iPhone SWFX and Android SWFX (convenient mobile platforms compatible with Dukascopy TV and offering a lot of opportunities for trading at any time from around the world). It is also possible to combine SWFX and MT4 terminal using third-party solutions.

Such trading platforms of the company are convenient, have a thoughtful and intuitive interface, the function of «Gapping Restriction», which allows to limit gapping or eliminate it completely, provide fast trading in two modes «Net Position» and «Hedging». Users can take advantage of round-the-clock technical support, contact a personal manager who will help to adapt the system quickly and start making real money. The official website of Dukascopy contains a large amount of material that will be useful to any trader (about the company, trading conditions, analytics, training materials, including the popular online project Dukascopy TV, etc.).

Bonuses in Dukascopy

Each trader of the company can get two types of bonuses:

The broker offers an additional profitable bonus of 10% of the deposit amount. Traders claim the bonus within 30 days of transferring funds to the account. You can withdraw the funds if a certain trading turnover was reached within a year from the date of the bonus crediting. Check with your personal manager for detailed bonus terms and conditions.

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A profitable bonus of the company will allow you to get additional funds for trading. To take part on the offer, you need to apply for a bonus within 30 days from the last deposit. You have to work bonus. Check with your personal manager information about the detailed bonus terms and conditions.

Deposit and withdrawal

Dukascopy offers a variety of possibilities for deposit and withdrawal operations. To deposit, need to sign up by broker, pass the sum to the account choosing a convenient way to transfer funds (minimum deposit – $100) from the options offered by the broker:

  • Bank transfer,
  • Credit and debit cards MasterCard, Visa, Maestro, Visa Electron.

  • Bank transfer,
  • Credit and debit cards MasterCard, Visa, Maestro, Visa Electron,
  • Dukascopy Payments (conduct transactions via mobile phone),
  • Dukascopy Connect (a convenient messenger developed by a Swiss Bank).

A trader can open an account in any of more than 20 currencies. The broker does not charge any commissions for account replenishment.

Complaints about Dukascopy

Dukascopy is one of the oldest Forex organizations and has a variety of reviews in the network, both positive and negative (truth about Forex). Among the advantages traders note the credibility and reliability of a serious broker with a reputation and reliability of the Swiss Bank, which guarantees favorable trading conditions, available deposit, accuracy of quotations, fast execution, quick withdrawal of money, high-quality flexible platforms, professional assistance of a personal manager, quick communication with technical support. Thanks to Swiss quality and safety, the company is recommended for trading. It is worth noting that there are more positive comments about the broker, which causes trust among users.

However, there are negative user reviews, which mainly relate to problems with the terminal (technical failures, freezes, rare requotes and gapping), a long verification procedure, and a long withdrawal of funds. At the same time there is an agent working on behalf of the organization on the forums in order to minimize the negative and to resolve the customers’ questions.

If we find complaints about Dukascopy, we will post it on social media. Follow us to be well informed:

Dukascopy broker regulator

The broker is licensed under the supervision of the Swiss financial Market Supervisory authority (Swiss Financial Market Supervisory Authority), the company has also received the status of a Swiss Bank with the right to provide the user with any banking services. It is worth noting that FINMA has rather stringent requirements for financial institutions, to get its regulation is extremely difficult and not all companies, including the Forex market, can do it. All representative offices of the company (European, Japanese, etc.) have the necessary licenses to carry out financial activities.

Is Dukascopy a scam?

Dukascopy is one of the oldest and experienced organizations that has been successfully providing its user with Forex services (as well as binary options) based on traditional Swiss quality for almost 20 years. The company is the undisputed leader in Europe and around the world, providing a unique opportunity to have an account in a Swiss Bank. This is largely credible, indicating that is it not a one-day broker.

There are enough references about dealing with the company in Internet, at that they are more positive aspects, which only confirms the quality of service and favorable trading conditions. There are negative comments in the Internet, but they are far fewer. At the same time, a representative of the broker works on the forum and tries to resolve the questions raised by the clients.

A separate significant advantages of the organization are a large number of its own developments: the pool of Swiss Foreign Exchange Marketplace that is used by the largest financial organizations, banks, hedge funds, brokers (for example, Alpari); all traders have a large number of platforms that have positive reviews on the network: JForex SWFX, Java SWFX, SWFX, mobile platforms (also clients can work with the usual MetaTrader 4 terminal).

Such an impressive number of developments are demanded by different financial institutions and indicate a serious confidence in the broker, and his willingness to invest significant resources in developing innovations that make the trade more comfortable and more functional, that this is definitely not a scam artist and bucket-shop, but a powerful structure, offering quality service and fulfilling their obligations on the market. The resource contains a large amount of material about the company, platforms, trading conditions, analytics and training information. The broker has a license to carry out activities (this information is also available on the website), which is a confidence point that guarantees the safety of trading.

Should we consider Dukascopy as a scam artist and a bucket shop? I guess not. For almost 20 years of successful diverse activities in the financial markets, the company proves this by being an indisputably reputable organization that fulfills its promises not only to the trader, but also to prestigious institutions. To avoid problems in working with any broker, properly work with a personal manager, specify the full information about the rules how to use the bonuses, trading features, withdrawal procedures.


The largest international Forex broker Dukascopy has been successfully operating in the financial markets for almost 20 years, ensuring the reliability and safety of Swiss quality to each client. The company is the undisputed industry leader, providing high service not only to the private user, but also to the largest prestigious financial institutions (banks, hedge funds, etc.).

Trust and positive feedback from customers about the company proves the right development strategy, which includes following the trends of online trading, the development of innovative services, favorable trading conditions. Many users recommend the company as a worthy broker, providing wide possibilities for earning real money. Dukascopy does not stop in development, proves the seriousness of intentions, so today we will not evaluate it as a scam company. And yet the references we expect from traders may not only affect the broker’s ratings, but also caution investors against problems.


Broker Name: Dukascopy
Platform: Dukascopy Platform
Founded: 1998
Bonus: 100%
Return/Refund: 70-90%
No. Of Assets: 100+
Regulated: FINMA, FCMC, JFSA
Demo Account: Yes
Minimum Deposit: 100*
US Traders: Not Accepted

Dukascopy Review

Dukascopy is a long-time leader of the online trading industry, offering FX, CFD and Binary Options on different trading platforms. The owning entity is Dukascopy Bank SA and it’s very important to note that we are dealing with a Swiss Bank, regulated by FINMA (Swiss Financial Market Supervisory Authority). The Swiss banking system is known to be the most solid in the world, so dealing with Dukascopy should be way safer than dealing with any CySEC regulated brokerage.

Dukascopy Bank SA has branches in Europe and Japan. The European branch is Dukascopy Europe IBS AS, an EU licensed investment brokerage company, (100% owned by Dukascopy Bank SA), based in Riga, Latvia and regulated by the Financial and Capital Market Commission of Latvia (FCMC).The Japanese branch is Dukascopy Japan K.K, which is a Type-1 licensed broker located in Tokyo and regulated by the Financial Services Agency of Japan (JFSA).

Editor’s Note – Why Dukascopy Doesn’t Suck In 50 Words?

I’ve been complaining about binary brokers looking the same, using the same old slogans like We Are The Leaders Of The Industry and then failing to show even an ounce of professionalism. This all stops when it comes to Dukascopy because in this case, we are dealing with one of the giants of the industry – and I am not only referring to the binary world but the trading world in general.

Why Dukascopy Sucks In 50 Words?

This is a big institution, with several branches and sometimes with complicated procedures. I’ve had to spend a lot of time to understand all the structure and get all the information and this means they suck at user-friendliness but don’t worry, it’s not a deal-breaker.

Is Dukascopy a Scam?

I sit in front of my laptop thinking how to answer this question in a professional manner. The first answers that come to mind are “LOL, are you kidding me?” and “What? How can you even think Dukascopy is a Scam?” but those are not very professional so I will try harder. We are talking about a broker that has its roots back in 1998 (later in 1999 they launched Dukascopy Trading Platform and in 2004, the Swiss Brokerage House) and is owned by a Swiss Bank with all the required credentials so I believe it’s safe to say Dukascopy is not a Scam. If we cannot trust a Swiss Bank with decades of experience in the trading field, then who can we trust?

Should I Open an Account with Dukascopy?

When it comes to the trading platform, it’s clear right away that we are dealing with a professional financial institution, not a slot machine provider. The star of the show is the chart, which is big, clear and shows candlesticks, bars or lines. Technical indicators can be used, time frames can be changed and overall it gives you the possibility to conduct proper technical analysis. Of course, the platform is more complicated than what most binary options traders are used to, but with a little bit of practice, it becomes easy to use. And speaking of practice, they offer a free demo account – free as in you don’t have to deposit to get it.

All is great so far but there has to be a downside, right? Well, their minimum deposit is 1,000 USD and I’d say that’s a major disadvantage because most traders are not willing to invest such a sum. Then again, if I think about all the stories where a client wants to invest 250 bucks and due to the pressure of the broker, deposits 10K total, just to lose it all because his/her account was traded into the ground by the account manager… maybe depositing 1K right from the start with a Swiss Bank is better. However, if you don’t have 1K, don’t despair because there’s hope: according to their rules, “The minimal deposit size of the account with Dukascopy Europe is 100 USD, while the minimum for Dukascopy Bank SA is 1’000 USD”.

In other words, if you are from Europe, you can open an account with as little as 100 bucks (but you will not be able to trade BO due to ESMA regulations; only FX and CFD); the rest of the world has to cough up 1K. If you are a client of a regular binary options brokerage – the “leaders”, the ones with the simplistic and limited platforms – you might think that using Dukascopy is more complicated because their platform is different and has more features. It’s not! Sure, it will take you longer to get used to it but I believe the extra effort is well worth it.

Dukascopy Bank SA is located at Route de Pre-Bois 20, ICC, Entrance H, 1215 Geneva 15, Switzerland. Dukascopy Europe IBS AS, located at Lacplesa iela 20a-1, Riga, LV-1011, Latvia. Dukascopy Japan K.K. is located at 6F Ginza Square, 2-14-4 Ginza, Chuo-ku,
Tokyo 104-0061, Japan. Dukascopy also has offices in Moscow, Hong Kong and more.

Dukascopy Complaints

There’s an old saying that goes something like this: Who doesn’t work doesn’t make mistakes. If your client base is huge, surely some complaints will surface and this is also the case with Dukascopy. There are some complaints online but these are mostly aimed towards their Forex platform which according to some, can be a bit clunky and freezes at times. So far binary options traders that have used Dukascopy didn’t have major complaints.

Dukascopy Bonus

The Bonus is 100% of the deposited amount and while under normal circumstances I would recommend staying away, this time I am not doing that. Here’s why: 1). You will receive the Bonus only if you specifically ask for it. 2). The Bonus will be added only after the turnover requirements are met (pending bonus structure). 3). The client CAN withdraw at any time but this will cancel the Bonus. In other words, you are not tied to the platform and this bonus is not a black hole for your money. However, the required volume is 40 times the bonus amount, which is pretty high, but you have one year to achieve it so there’s plenty of time.

Dukascopy Withdrawals

The available methods are credit/debit cards, wire transfers, Skrill, Neteller, and Bitcoin. Processing may take up to 3 business days, which is faster than with other brokers (they are a bank after all) but more importantly, it’s safer. Also, there are no minimum withdrawal amounts so you can take out whatever you feel like.

Dukascopy Extras

Putting aside professionalism, charts, technical indicators and the fact that they are one of the biggest brokers on the globe, Dukascopy offers tons of contests, ranging from trading contests to Miss Dukascopy. I understand the trading contest, but the beauty pageant, not so much. Well, different strokes for different folks. Other than that, we can mention that Dukascopy launched a crypto coin called Dukascoin. For more info, please refer to the White Paper.

Dukascopy Ratings

User Friendly 15/20

I have to admit that the entire website is kind of hard to navigate but this is mostly due to the huge amount of information available. It is well structured but it will take you a while to find what you are looking for. The platform is more difficult to use than a regular binary options platform, especially for a green trader. The website is offered in 10 languages, mobile platforms and demo accounts are available. U.S., Belgian, Israeli and Canadian clients are not accepted.

Number of assets and expiry times 17/20

Dukascopy only offers 18 currency pairs to trade as binary options, which is not a lot, so they could use a bit of improvement here (they offer a lot more assets for CFD trading). Expiry times range from 3 minutes to 12 hours and 56 minutes, which will probably satisfy traders interested in fast and medium-paced options.

Commissions, Support and Effective return 16/20

The fees for deposits range from 1.2% to 2.5%, depending on the method used. Withdrawal fees go as high as 50 USD for wires and 2.5% for Skrill which is a bit on the steep side. Support is quick to answer and helpful; you won’t get any pressure from them to deposit and the information given is accurate. The effective return ranges from 70% to 90% and the client has the opportunity to choose a lower payout in exchange for a higher refund, which makes for a great risk management tool.

Deposit, Payment and Bonus 17/20

The minimum deposit for the European branch of Dukascopy is 100 USD while for the rest of the world is 1,000 USD. Payments can be made through the majority of credit and debit cards, wire transfers, e-wallets (Skrill and Neteller) and Bitcoin. Withdrawals take up to 3 business days to appear in your account while deposits appear in 1 day or faster. The Bonus goes up to 100% but you can withdraw at any time before the 40 times turnover is reached (however, this will cancel the bonus).

Website Extras 17/20

Beauty pageants, trading contests, their own cryptocurrency, and Dukascopy TV, which is registered with the Federal Office of Communications from Swiss State regulator OFCOM, meaning they are an official Swiss TV broadcaster.

Dukascopy Overall Rating (82) + Regulated (+3) = 85/100 Review Visit site


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

  • Information
  • Live Discussion
  • Profile
  • Video
  • 13 Widgets
  • More .

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:




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





News Spike Trading:
Deposit Methods: Bank Wire, VISA, Bank Gurantees, Maestro, Neteller, Other Crypto Currencies, Skrill
Withdrawal Methods: Bank Wire

Live discussion

Join live discussion of on our forum 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. 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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Let other traders know if this service is worth checking or should be avoided.

Your feedback matters!

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.

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 @ 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.

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