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Dukascopy Review

  • Regulated by: FINMA & FSA
  • Safety: segregates client funds
  • Trust Rating: D
Open Dukascopy's Website

Losses can exceed deposits. Your capital is at risk.

Dukascopy two ways: Social Trading, Binary Options.

To open a live account, you’ll need a minimum deposit of at least $5000. Alternatively, Dukascopy offer a demo account that you can use to practice and familiarise yourself with their platform.

Regulated by . Dukascopy puts all client funds in a segregated bank account and uses tier-1 banks for this. Dukascopy have been established since 1998, and have a head office in Switzerland.

Before we dive into some of the more detailed aspects of Dukascopy’s spreads, fees, platforms and trading features, you may want to open Dukascopy‘s website in a new tab by clicking the button below in order to see the latest information directly from Dukascopy.

Open a demo account Visit Dukascopy

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.
Your capital is at risk.

Dukascopy screenshot

PROS

  • Segeregates client funds
  • Established in 1998
  • Regulated by FINMA & FSA
  • Min. deposit from $5000

CONS

What are Dukascopy's spreads & fees?

Like most brokers, Dukascopy take a fee from the spread, which is the difference between the buy and sell price of an instrument.

The spreads displayed below are based on the minimum spreads listed on Dukascopy’s website. The colour bars show how competitive Dukascopy’s spreads are in comparison to other popular brokers featured on BrokerNotes.

Speads are dynamic and are for informational purposes only. Last updated: June 06, 2018.

As you can see, Dukascopy's minimum spread for trading EUR/USD is 1.8 pips - which is relatively high compared to average EUR/USD spread of 0.82 pips. Below is a breakdown of how much it would cost you to trade one lot of EUR/USD with Dukascopy vs. similar brokers.

See all Spreads
Your capital is at risk.

How much does Dukascopy charge to trade 1 lot of EUR/USD?

If you were to buy one standard lot of EUR/USD (100k units) with Dukascopy at an exchange rate of 1.1719 and then sell it the next day at the same price you would likely pay $8.1. Here’s a rough breakdown of the fees and how this compares against AvaTrade & Plus500.

Dukascopy AvaTrade Plus500
Spread from: $1.00 $7.00 $6.00
Typical overnight fee: $7.10 $5.00 $9.40
Commission: $10.00 $0.00 $0.00
Total cost of a 100k trade: $8.1 $12 $15.4
$3.90 more $7.30 more
Visit Dukascopy Visit AvaTrade Visit Plus500

All fees/prices are for informational purposes and are subject to change. Last updated: 09/03/2018. Your capital is at risk.

General Fees

  • Dukascopy does charge inactivity fees
  • Dukascopy doesn’t charge withdrawal fees*

Overnight fees & swap rates

When you hold a position overnight, it is usually subject to overnight interest which you must pay to your brokerage (sometimes called a rollover fee or swap rate).

  • The rollover fee for long positions on EUR/USD is -$7.10
  • The rollover fee for short positions on EUR/USD is $6.4

Commissions

  • Dukascopy does charge commission on CFD shares

What can you trade with Dukascopy?

FX / Currencies Dukascopy AvaTrade Plus500
# of forex pairs offered 59 61
Major forex pairs Yes Yes Yes
Minor forex pairs Yes Yes
Exotic forex pairs Yes Yes
Cryptocurrencies No Yes Yes
Commodity CFDs Dukascopy AvaTrade Plus500
# of commodities offered 16 17
Metals Yes Yes Yes
Energies Yes Yes Yes
Agricultural Yes Yes Yes
Indiced & Stock CFDs Dukascopy AvaTrade Plus500
# of Stocks offered 99 1816
UK Shares Yes Yes Yes
US Shares Yes Yes Yes
German Shares Yes Yes Yes
Japanese Shares Yes Yes Yes
See Dukascopy's Instruments See AvaTrade's Instruments See Plus500's Instruments
Your capital is at risk.

What’s the Dukascopy trading experience like?

1) Platforms and apps

Dukascopy offer the popular MT4 forex trading platform. To see a list of the top MT4 brokers, see our comparison of MT4 brokers. Dukascopy also offer their custom SWFX Trader platform.

Dukascopy Screenshot See Dukascopy's Platforms

Dukascopy also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you are on the move.

See Dukascopy's platforms
Your capital is at risk.

Trading Features:

  • Allows scalping
  • Allows hedging
  • Offers STP
  • Low min deposit

Accounts offered:

  • Demo account
  • Micro account
  • Mini account
  • Standard account
  • ECN account
  • Islamic account

Still not sure?

Open a practice account & learn to trade

2) Executing Trades

Dukascopy allow you to execute a minimum of trade of 0.01 Lot. This may vary depending on the account you open. The maximum trade requirements vary depending on the trader and the instrument. As Dukascopy offer ECN and STP execution, you can expect very tight spreads with more transparency over the price you’re paying to execute your trades.

As with most brokers, margin requirements do vary depending on the trader, accounts and instruments. You can see the latest margin requirements on their website.

Finally, we’ve listed some of the popular funding methods that Dukascopy offers its traders on the right.

Funding methods:

  • Credit cards
  • Bank Transfer

3) Client support

Dukascopy support a wide range of languages including Chinese, English, French, German, Italian, Japanese, Polish, Portuguese, Russian, Spanish

Dukascopy have a BrokerNotes triple AAA support rating because they offer a wide range of languages, live chat, phone and email support.

4) What you’ll need to open an account with Dukascopy

As Dukascopy is regulated by FINMA & FSA, every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you’ll likely be asked for the following, so it’s good to have these handy:

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You’ll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it’s best to put aside at least 10 minutes or so to complete the account opening process.

While you might be able to explore Dukascopy’s platform straight away, it’s important to note that you won’t be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with Dukascopy you can visit their website here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you’re prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from https://www.dukascopy.com/ on March 21, 2018.